Budget these carefully into your overall project plan to avoid surprises.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.ARV: Be conservative on your ARV since the appraisal concerns one person’s opinion.

About 3 months have gone by and we just received an email from a communications company billing us $4,000 for breaking a communication line buried in the yard.

Cash on cash is only what you are receiving divided by your expenses.

With that she can determine, of the cash received how much should be set aside for taxes, then gift the ex-spouse a potion.

@Jackson Pudlo you'll have a better chance of success managing a unit right next door and learn a lot.Versus...Buying a rental in a few years that not near you.One of the biggest mistakes newbie investors make is not paying enough attention to their rentals because they are too busy with family & work.You really won't be able to ignore a rental next door to you!

So, I went hunting.Huntsville, Alabama, caught my attention because it’s a highly educated city with growing industries and a stable, diverse economy, as well as a really high quality of life compared to the surrounding areas. 

Yes if you hold it long term (really long term), you may get back the same amount that you would have received by not paying capital gains, but you have to hold it long term AND have the house appreciate. 

Yea I would definitely show before receiving applications.

How can I strike a deal where they can still receive some income from the property, but I can purchase the home and make my share and eventually (1-2 years away) own the home and eventually get full profit from this 8-unit property.

If are confident you will receive a permit, then somethings to think about...#1 I would call the city rentals department directly and ask if the seller's license will remain active until the day yours becomes active.