I pulled some past deeds and it looks like a substitution of trustee and full reconveyance can be drafted by title.

It's great to ask these questions in the forums to get a feel for things but it's not a substitute for getting "official" advice from an REI-savvy tax pro that you have hired.Regarding what to deduct versus what to capitalize (and depreciate over time), your tax pro can walk you through that for each line item.

They can walk you through all of this and will help you create a tax strategy based on your goals.Your statement that "insurance can't be deducted" reinforces that it's most likely in your best interest to hire a professional to help you with this.The forums are great but not a substitute for hiring a tax pro.

I enjoy your perspective and purpose-driven attitude, there is no substitute for hard work over an extended period of time.As relates to this topic, protecting my guys (many of them pro athletes) is important to me. 

Come to this forum expecting good quality information with a bias toward the information providers business; not a substitute for a paid fee only consultant.  

What you call "works great for me", to me is quite low performance.So let's agree from now on to never again use mere opinion or baseless claims as a substitution for data.

The interest rates and payments substituting either option will be higher than your mortgage.

That sets the tone for learning about the future.All the advice here (and there are great insights) will not substitute going out and getting a deal.if you are serious about a future in RE, you will learn from your mistakes in your first deal and you will use those mistakes to help you in your second deal and so forth.Most importantly you will if you enjoy the journey of RE investing.

The Key and Peele Substitute Teacher skit where Mr.

Yes, I've closed on 4, rehabbed them, and they are all rented with tenants in place :)OK, and for these deals, I assume you use your own funds to acquire and rehab.With private money, you're now substituting some individual's funds for your own.However, unlike when it was just your money, you'll need to proceed with extreme caution to make certain your lenders are well protected if/when things don't go as planned.Private lending is its own whole profession.