Evaluate potential rental properties with a keen eye on location, cash flow, and potential appreciation.

Start by networking with local investors, identifying target neighborhoods, running numbers on potential deals, and lining up financing so you're ready to act when the right opportunity comes up!

I created an electronic google doc time tracker: Time LogContemporaneous time log of rental real estate activitiesActivity DescriptionTenant recruitmentTenant screeningNegotiating and executing leasesOverseeing repairs and maintenanceCommunications with tenants and vendorsTravel timeResearch for potential rental real estate (pub 925)Acquiring rental real estate (pub 925)Paperwork/bookkeeping/bankingResearch and purchase of materialsRent collectionEvictionOn-site cleaningBill paymentOther:Time SpentDateMM/DD/YYYYSubmit

Also this could be a potentially lucrative business partnership.

Home is potentially upside down on mortgage (verifying that) and current owner wants too much for the house.

Is saving the fee a PM charges worth the potential thousands in cost and headaches?

We have specific and unyielding criteria for this, which we provide to all potential borrowers in advance.

Additionally, timing the sale in a lower-income year or exploring potential deductions could further reduce your tax liability.

The impact of not having F/f financing is large (>10%) if the appraiser recognizes this potential issue.  

But by coming together with others, one can get in the game and put their money to work in these bigger, potentially greater return deals without having to do it solo.