Maybe you get lucky and it lasts for a couple years until you off-load, but you're always perched on the razors edge and that can lead to a lot of sleepless nights.The knob-and-tube is pretty much a non-starter unless the seller is willing to make some pretty serious concessions.Roof leaks are never as cheap as you think they'll be (same for foundation issues).

You could also watch "Shark Tank" for some very loose and anecdotal ideas.

Appreciation has been substantial for a long time for anyone holding 5 years or more except maybe for the 2006-2008 time slot. 

Thank you Shark bite!!!!

You'll want to work with a savvy Tax attorney, business attorney, and CPA to make sure this is a valid tax avoidance or optimization play, and not a tax evasion play.In the end, Bellman, I will tell you what life has told me:  Occam's Razor is for real.

@Daniel AnshusHaving that kind of razor thin margin is crazy-LOL  All you need is a slight pandemic and some non payment tenants and you are running a negative cash flow even on having a good sized portfolio. 

Hi, I’m just new to real estate and I’m just wondering where on the country it’s now best for house hacking or BRRR, I’m currently living in Union City NJ and to start on my journey seems a bit hard because there is so many sharks in a small tank (Hudson county) and I’m just tryin to look outside that box and see what opportunities are out there.Hope to connect here with some people and have good recommendations!

The owner is looking to retire and just get rid of the property so he and his wife can enjoy travel and enjoy their retirement.Ask price: 90k (trying to get him to 60-70k)Current market value on Property Shark: 87k (similar homes fully renovated in area have sold for 200k)Current tenants paying 650 and another is paying 730/monthProperty tax 2019: ~2kI am think about using an FHA loan to purchase the property, what pros and cons for the seller if I do?

We did an open for the Iconic "Razor House" that sold to a very popular music artist last year with Million Dollar Listing in La Jolla.

They are keeping all the slots full year round with very little maintenance.