As for it not being a sexy asset class...to me thats its best attribute, no BS just a building and use it as you will.  

We try to weed through some of the applicant BS by trying to make some of the subjective attributes more quantifiable and verifiable.  

They also don't have 1000 students because there is NO WAY a good mentor has the time to teach that many people properly.If you do not have DIRECT ACCESS to your mentor but one of his/her helpers - you don't have a mentor... you have a guru.I personally have a mentor and I can attribute a big part of my success to their teachings and guidance.

I know one investor in Calvert Country who isn't doing so well (but I would attribute that to him not being a good landlord...most aren't!)

I'm not confused, but after reading extensively on this topic, having previous discussions here on bigger pockets, and discussing it will two different accountants, I'm not 100% confident of the answer.I believe the answer is that you have to pay depreciation recapture tax, currently 25%, on the portion of the gain on a sale that is attributable to the depreciation allowed on the property.

Also, you can absolutely depreciate or deduct the $15,000 and it is all attributed to the rental since the flood happened after it became a rental.Bigger issue: Here is what I have investors read on how to determine the competence or incompetence of their CPA.http://www.biggerpockets.com/blogs/2024-wealth-building-cpa?

In this case isn t the UDFI calculated as such: $10,000(50% of income attributed to debt financing) - $4000 ( mort into expense)-$1,000. ( 1k exempt)= $5,000 UDFI to which tax rate is 15% or $750.Every extra $100,000 of capital in the IRA more than doubles the UDFI tax on initial 100k of capital as tax rates increase.Also assume a person forms an LLC for the purpose of having a property management company manage a property for 7%, $700-$200(expenses)=$500FICA taxes= $500 x 15.3%=$77So by filling out a schedule C for business and paying $77 in taxes, self employment, you are saying it's not worth it?

that is the biggest discount i have heard about and it would scare the heck out of me what do you attribute the half off price to?

I query all my data for certain attributes to find the most likely sellers.

My biggest tip is to keep networking and asking questions.Regarding comps...you'll want to take your subject property - identify its property attributes: Beds, baths, SF, finish level (interior & exterior), # of units, and then find other properties within a certain distance anywhere from .25-1 mile and find similar properties with those attributes.Then do the same thing for determining the after-repair value (ARV) except now you are looking for properties with the nicer finishes you will use on your rehab value.We always look at closed comps within the last 12 months max or less if there are enough good comps.