Here are the details of the transaction:Purchase Price: $31,000Estimated prepaid Items: $1,081.40Estimated Closing Costs: $1,916.62Total Costs: $33,998.02Other CreditsCash Deposit on Sales contract: $1,000.00Loan Amount: $27,900.00Cash from Borrower: $5,098.02So, I put down $1,000.00 earnest money, and they're saying I'll have to bring $5,098.02 to close.

With the delayed financing I was able to get a loan for $73.6K (includes rolling in closing costs, prepaids, etc.) with conventional financing @ 30 year, 4.5%.I will collect ~$3,800 in rent before my first payment.

Don't most of these transactions get paid from your debit or credit card?

I understand interest paid, points pre-paid, etc...can all be written off in whichever year they are paid in.

This should be picked up for the current year's tax, even if it was prepaid the prior calendar year for some reason.The Sch.

if it is prepaid accounting then it is a bad idea, their incentive is not to talk to you unlike pay per service

Closing costs look about right, the prepaids look high but that could just depend on your area.

You are not able to cash out refi until the property has been seasoned for 6 months.With Delayed Financing, you are able to finance your initial investment (purchase price & closing costs), plus the closing costs and prepaids on the new loan, not to exceed 75% LTV of the new ARV.  

I'm pursuing a lawsuit to return a large sum of money I've pre-paid, but that is going to take months or years to get back. 

You can also allow tenants to pay via credit or debit card, but the fees are percentage based and thus go up with higher rent amounts.