What are the typical vacancy rates in the area - I realize the answer to this is going to be very geography specific, but how do you even go about determining vacancy rates;Is non-payment of rent (uncollected rent) an issue and what are investors accounting for;What are the typical eviction timeframes one should expect in Indy or in St Louis; Although $600/mo in rent satisfies the 1% rule assuming a $60K purchase price, can an investor in fact accrue maintenance funds (while operating in the black) quickly enough to satisfy maintenance needs as they arise (i.e. a 10% maintenance accrual on a $600/mo rent is only $60/mo or $720/yr.

Curiosity How did you find this deal and how did you negotiate it?

Curiosity How did you find this deal and how did you negotiate it?

Out of curiosity, to do the math did you account for the rule of thumb 50% rule on additional expenses?

So to start, if you havnt had it in an interest bearing account, any dispute over security deposit you will lost.Within 45 days you need to give your tenant a ledger or statement begining with security deposit, plus accrued interest, then make deductions for damage, or unpaid rent. 

Hi Jay,I was killing some time during floor duty today and figured I would run a quick search out of curiosity.

I'm still jealous, but he sparked my first curiosity into owning property.

Hey guys,So about two years ago I attended a real estate seminar just out of curiosity, that changed my life!

@Lou NguyenActually, you may be required to file a partnership return for that 1 day of activity.You earned/accrued 1 day of income/expenses which is reported on the closing statement.

and great explanation, and I think I followed accurately.... but out of curiosity in Dave's example: if an owner acquired the property and rented it for two years, then moved in and lived for the next 5 years could they use the 121 exclusion and get the entire gain tax free?