Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

Since buyers will be putting so much consideration into the kitchen, installing new cabinets, countertops, and a nice backsplash is vitally important!

Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

The most important ingredient in real estate is TIME. 

I'm actually not leveraging bonus depreciation at the moment, and am looking simply to offset normal expenses (including standard asset depreciation) against non-passive (W2) income.

Most importantly you seem to have an understanding that education is the foundation to build your investments on, and that will keep you from chasing shiny objects. 

Meaning, if you take the money only, you would have depreciation recapture from your cost basis up to the original purchase price of the building (not including the land cost because it wasn't depreciable), plus a capital gain up to the insurance proceeds.Hope this makes sense. 

Hello AllI have a opportunity to purchase a 3 unit rental property. how should I structure the offer and what should be required in it.Does the seller provide a fee and clear Title with Title insurance, should the seller be required to evict the tenants before I purchase, what verifications or contingencies should i include. etc......ThanksJeff

This is not including any financing costs and closing cost which can easily bump that number to 23k. 

It's important to narrow down on the locations and conditions of properties you're looking to buy so you can align your numbers with those expectations.