He used many over-simplified examples and pie in the sky scenarios.  

If this is true, at the purchase price of $2.5M, this has a cap rate of 15.86%.You then deduct your debt service which is $27,755 x 12 = $333,060 from the NOIEquals cashflow = $63,540/yearMost likely you will put 25% downpayment - that will be $625,000Your cash on cash return is Annual Cashflow/ Investment x 100 (%) = 10.2%/ yr.The above analysis is very simplified of course.

I don't want to over simplify it but to me those would be the steps to take and in the relative order.

However to simplify things for you, most fees are going to be very similar, regardless of the lender, with the exception of origination fees and points. 

My ultimate goal is to simplify and de-mystify the whole investment process.I am excited to be a part of the BiggePockets community, and I look forward to learning from everyone's experiences.

This deduction can help reduce your taxable income.Tax Credits: Research and take advantage of available tax credits, such as the Earned Income Tax Credit, which can offset your tax liability.Retirement Plans: Contributing to a self-employed retirement plan like a Solo 401(k) or a Simplified Employee Pension (SEP) IRA can reduce your taxable income.

While this simplifies tax reporting, it might not provide the same level of liability protection as a multi-member LLC.Separate Tax Returns for Each LLC:While it might be more administratively burdensome, having separate tax returns for each LLC could strengthen the separation of assets for liability protection purposes.

The portion of the property that you use for personal purposes is not considered a rental property for tax purposes.Here's a simplified example to illustrate:Let's say you own a duplex, and you live in one unit while renting out the other.

If you sell the property in 2024, the remaining "what would have been depreciated" over the subsequent years is subject to depreciation recapture.Here's a simplified calculation:Total Depreciation Taken: Let's say you've taken $1,000 in depreciation each year from 2020 to 2023, totaling $4,000.Remaining Depreciation to Be Recaptured: The remaining depreciation that would have been taken over the years 2024 and beyond (up to the end of the useful life, which is 27.5 years in total) would be $7,000 - $4,000 = $3,000.When you sell the property in 2024, the $3,000 remaining depreciation would be subject to depreciation recapture.

Current expenses are usually deductible in the year they are incurred, while capital expenses may be recovered over time through depreciation.Safe harbor rules may provide a simplified method for determining whether certain expenses can be immediately deducted rather than capitalized.