(A recorded trustee's deed (or similar alternative) confirming the amount paid by the grantee to trustee may be substituted for a settlement statement if a settlement statement was not provided to the purchaser at time of sale.)The preliminary title search or report must confirm that there are no existing liens on the subject property.The sources of funds for the purchase transaction are documented (such as bank statements, personal loan documents, or a HELOC on another property).If the source of funds used to acquire the property was an unsecured loan or a loan secured by an asset other than the subject property (such as a HELOC secured by another property), the settlement statement for the refinance transaction must reflect that all cash-out proceeds be used to pay off or pay down, as applicable, the loan used to purchase the property.

@Janelle NilesYeah, I have a few investment properties (there is no substitute for owning physical properties that I can actually drive by and see and manage!

You need to substitute a long spec sheet with how you want everything done, materials used, etc.

That said, there's no substitute for the personal, hands-on experience that you have, as a native.If you're game, connect with me here on BP and let's talk Savannah real estate!

You can substitute experience for market knowledge by spouting off a bunch of accurate data about absorption rates, comparable sales in a neighborhood, finish levels of renovations, etc. 

If you sell in 10 years, that $3600 depreciation will be added in as income on your taxes and you will pay taxes (currently 25%) on that $3600 even if you didn't claim it.Now, on a $10k property, it's not a huge deal, but if you have a $100k property, under the same scenario, your talking $36,000 in taxable income.Google and BP are not a substitute for an accountant.

There is no substitute for experience.

There is nothing that will ever substitute property visits.

There is no substitute for being physically present with experienced investors.I'm always happy to help point you in the right direction for resources or tools on BiggerPockets that can help you with your REI goals!

There is no substitute for being physically present with experienced investors.I'm always happy to help point you in the right direction for resources or tools on BiggerPockets that can help you with your REI goals!