Details of the portfolio deal here: https://www.biggerpockets.com/forums/311/topics/440161-offer-submitted-on-32-unit-portfolioI'm celebrating this evening with a limited edition cigar from 2010 and a delicious rare bourbon to match. 

Ben, I'll buy you birthday dinner...I want a ride in that Tesla.

If you ever get over to my neck of the woods, a little south of Flint, please let me know, I'd be happy to buy you dinner to say thanks and talk a little real estate.  

I'm expecting there to be a decent amount of updates done soon, so I'll be able to expense those, but I wasn't sure if things like operating meetings, canvasing the neighborhood to compare other prices (mileage and or related dinners to see the area), etc. are included if we're not an LLC.For the record, I'm not wanting specific legal advice as we plan on getting a CPA before tax season, but more of a guideline on what we can and can't claim as operating expenses for the unit we'll be renting.

@Mindy Jensen, @Scott Trench - you guys are funny...Last night I had at my dinner table a guy who has already paid $72,000 in income/FICA taxes this year, and by the time it's all said and done, this number is more than likely going to go up.  

I've been trying to cut out the amount of cash I spend allowing nyc to baby me (delivery dinner) and trying to push some of that into a down payment for another investment over numerous months/years.

I was just sitting down with him at dinner and going over the numbers:1st house: rental income of $7,900 per year(net rental income) - $1,975(federal tax rate of 25%) = $5,925 ; cash-on-cash return is $5,925/$100,000 = 5.95%2nd house: $75,000 conventional home owner's 30-year loan with 4% interest (he already paid off $25,000 of the initial loan) = $3,000 per year payment to bankNet income = $2,925 to pay off the principal of the 2nd house's loan.I told him he would be better off getting a real estate lawyer and/or accountant to help make sure he gets his depreciation deducted from his 1st house in order to increase his cash-on-cash return.  

I completely spaced I made dinner reservations tomorrow evening but I'm going to try and push it to after 9, I'd really love to attend this meeting and meet everyone. 

Now I know what I am going to be doing after dinner...

It's very rare it will work and Thanksgiving dinner will taste differently.