However, if you make the same mistake for two or more consecutive tax years and the mistake is not a simple math error (for example, you realize that you've been using the wrong table), you've effectively chosen an accounting method, and you cannot correct the mistake by filing an amended return.

Hi BP,I'm an investor in Pittsburgh PA and looking to start investing in a new market, a one we would also be moving there.After a long analysis, DFW was chosen so I'm coming to get to know the area before relocating.

I have chosen to have a servicer for my notes.Do you have any suggestions for a good servicing company?

Otherwise, you'll have no return until the market improves and you can sell or refi and pull cash out.There are infinite strategies in real estate and I'm  convince decent returns can be generated in every market, however I'm a conservative investor and though I own investments locally, I've chosen not to invest a large amount of my capital in old properties purely for appreciation which may or may not be realized. i generate 12%+ of my return from cash flow alone and do this in all markets and all cycles...which protects me from down markets.I'm done posting on this topic.Feel free to reach out to me if you have specific questions.  

(We already had the reminder in our weekly LaPlante meetings that we are headed into the dreaded Black Friday and Christmas season where tenants can attempt to pay their rent with excuses...we have to be direct and aggressive in our chosen market to collect rent or begin eviction.

A good number of those renters have chosen to NOT use the money they are given to pay rent and are riding the (no eviction till August 15) wave. 

What's best for you (or any investor) is between you and your chosen professionals.

@Alex Mosqueda here is a copy of a blog that I wrote on hiring a PMHiring a property manager is an important decision, and can be an asset for a property investor, but can also be a detriment if not chosen carefully and without some due diligence.

They're happy and living the life they have chosen.

This is all fine and good, but yet a compromise that I have made to fit the role that I have agreed to play.One of the biggest parts of why I have chosen this path is so that I can live the way that I chose to live, and to not conform to other people's standards.