Our plan for the the first year was to purchase two cashflowing properties, then use the cashflow from those and anything else we can scrape together (income we don't spend and toys and equipment we can sell) to make purchase #3 in year 2.

If you buy a property and see laundry equipment in the room with a sign on the wall or decals on the machines that could be considered "constructive notice"...if you don't get a lease from the seller it's your responsibilty to find out if one exists. 6.

@Jake Calle, does the radio station need any special kind of equipment (antennas, etc) which may require zoning or township or FCC approval?

I deliver HVAC equipment to new housing developments all over Northern California.

Non-cash deductions: depreciation on your property, improvements, equipment.

In lieu of some photos, I'm going to post a link to our HRV Homes YouTube video that I whipped up one late night - please excuse the audio - I don't have any fancy equipment for recording yet.  

Gerald Swanson Circuit breakers for HVAC units very rarely trip unless there is some problem with the equipment.

Make sure you guys get a good deal first of all that way you guys get more income so in case you guys need to be paying for repairs, equipment, appliances, or any others expenses you guys have enough cash flow coming in to meet any expenses that this property throws your way.

Pertinent skills include:  HVAC (refrigeration licensed), plumbing, electrical, mild construction, metal fabrication, soon to be licensed NC contractor, grading/excavating, ...etc...I do/know alot of stuff and have alot of tools and equipment...I wouldn't bring you any headaches.  

How are you equipped to handle virtual leasing?