In expensive areas, condos become the defacto first time home buyer home of choice because SFR's are so out of reach price wise.

However, since we held the property into 2012, how does this work tax wise?

I'm thinking that it would be wise to pay this down as quickly as possible before interest rates climb again?

So many ideas in my head i catch myself driving down the road most times looking at homes thinking what i would do to that home remodeling wise am i crazy or does anyone else do this?

Hello everyone,I am fairly new to the world of real estate and property management world.I am currently 50% into finishing up my pre reqs for my real estate test in California.Also state wise I am a working an functional business here in California.

Would it be wise (in the future when the cash is available) to look into getting the units on separate meters?

Multiple refinances can affect your credit and it can take years before the savings on the refinance payoff the closing costs.Most likely the loan on the $75k purchase is at very low rate and it would be wise to keep it there.

Just curious how you set up the deal, paperwork wise...thanks!

There are even more people who want to own, but haven't set themselves up right credit wise that are searching for a lease option (rent to own).

Other wise, it's mine.