Deduct Selling Expenses: Costs associated with selling the property, such as real estate commissions, legal fees, and advertising expenses, can be deducted from your sales price, thereby reducing your taxable gain.9.

They don't associate cheap with undesirable. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

The fees associated with the exchange could offset the tax savings, but it’s a viable option if you plan to continue investing in real estate.

Ensure contractors have solid referrals from other investors and join local real estate investment associations for networking.

i do not think the chicago building  code allows sub-meters; it puts another layer of complexity (and point of failure) onto the system and deprives the city of a financially responsible entity (condo association or landlord).inspect all units and replace bad toilet flappers, etc.

- What are some hidden costs associated with purchasing unimproved land, such as property taxes, closing costs, or financing fees?

Assuming that the act of wholesaling is legal in your area, have all the costs associated with closing go through the title company. 

He is associated with our local REA. 

Note, even though you may have a per-transaction fee or unlimited transactions, it looks like pretty much each transaction will still have some additional associated fees for things such as AHC/wire or expediting docs, but they seem reasonable.When I was setting mine up, I was told that the flat fee isn't charged until your first transaction.