The reality of the situation is that your network is your network because you work well together.

That is enough albeit only a cheaper property and, while I don't know Florida that well, I doubt there are many in that price range. 

(Michael's posts are a great resource for this, but still no substitute for working directly with a tax accountant that's well-versed in all the ins-and-outs of this.) 

Id like to enjoy another stream of income to eventually phase out my day job, so that I can focus on acquiring commercial properties as well as a business or 3.  

I decided to break it down and share the REAL costs and not just estimates.A lot of the work was screwing down and fixing the subfloor as well as completely screwing and securing the ceiling sheetrock.

When it's sold it will be taxed as capital gains tax and may also have some unrecaptured depreciation which is capped at 25% and  recaptured depreciation as well which can be up to your ordinary income tax rate.

Great question - when you find out let me know as we are looking for one as well. 

We're a turnkey provider in Little Rock and Memphis markets and we provide management services as well.

Update: Decided to go with Total Quality Lending and all is going well so far.  

Hi Rosette,I saw your post from a few months ago and hope your investing journey is going well!