If your taxes and insurance are not included in your monthly mortgage payment, the annual amount for both property taxes and insurance divided by 12 will still be added to your payment to determine the PITI for each property.

Your $1,500 rent is self-employed income (Sch C), offset by your $1,000 payments to the seller and all other business expenses.Your $10k option will be added to the $100k purchase price as tax basis once you exercise.

The criteria I was looking for was:-is the property in the general area of where I wanted to live -will the property cash flow once I move out-is there value to be added (improve current property management, units needing renovation but still in 'livable' condition, can a room be converted into a bedroom)-is the property zoned properly

Defeat the height adjustment and the floor cannot be added and the apartment will not be cost effective.

We currently have 6 rental properties, and will be adding more.  

You can list the place for cheaper rent and then add the amount in, which I am not a fan of, or just list the rent with the sewer and garbage included and tell them the water bill will be added to the rent every two months when the bill comes. 

All costs of acquisition, to include all the closing costs, can always be added to the basis.

I found a company/website called value appeal and if you put down your zipcode you get comps and told if you are at risk of overpaying on taxes, i tried this however not enough data in my area.I also got told i need to wait until march 2012 to dispute taxes but by then interest will be added so im thinking pay upto date soon and then dispute in march?

I will also be adding value to the deal by handling construction work and other things like that.

People have a right to have guests in their homes, however; you should have a clause in the lease stating that if any guest stays past x number of months, they need to be added to the lease.Make sure you use the same standard for her as you do every other tenant, or you are opening the door to a lawsuit.