Definitely filing that under “things I’ll do differently next time.”About the appraisal discrepancy—it’s frustrating, but you’re probably right that it’s not a huge shock since I didn’t make any changes to the property.

After one year of occupancy, refinancing into a conventional loan can remove PMI if you achieve 20% equity through appreciation or principal paydown.

I’m a licensed agent in multiple states (my Arizona license number’s on file if you need it), and while I’m not your attorney or accountant, I’ve seen more real deals than I can count.

I flew there and walked the house, looked pretty turnkey rental grade): $1029 GFCI outlets, downspouts and guards, drywall, paint, bathroom vent$4615 (new AC unit since unit was stolen before tenant moved in, didn't file insurance claim because didn't want my premium to go up) $600 (water line, gas line, P trap)$60 lawn mowing$112  thermostat repairMy opinion is that Class C is better for local investors who are on site and know how to do repairs and self manage.

Jorge Newberry is the principal and a very good guy from my experience.

They can choose to leave and you can both sign an agreement to terminate the tenancy, or, you are going to file for eviction and it will probably wreck their credit. 

You may need to register as a foreign entity, file a tax return, and pay taxes in PA.

all are new constructions and I don't know how she is gonna be able to find 750h of work to do in these new construction houses.Any help appreciated Good questions, first the IRS requirements to meet Real Estate Professional Status (REPS) are: > 50 percent of his/her time working in real property businesses; AND, 750 hours of service during the year ANDAt least %5 ownerIf married filing jointly, one spouse must meet 750 hour requirement on their own.

You don't have to file "Trust" documents in order to hold a tenant security deposit in trust.

As mentioned elsewhere, breakeven on cash flow is not the same as break even for taxes.Let's make some assumptions:Rental income = $1000Mortgage payment = $400 - but $300 is interest and $100 is principalOther expenses (repairs, advertising, utilities, etc) = $600Depreciation = $250The above scenario creates a break even from a cash flow perspective, however the tax scenario looks like this:Rental income minus the mortgage interest (principal is not deductible) minus the other expenses minus depreciation looks like this:1000-300-600-250 = $150 LossIf your income is over $150,000, then you cannot deduct that loss, but you can roll it over to future years.