This person would NOT be subject to SE tax and would be taxed at the capital gains tax if the property is held longer than a year.

I definitely wouldn't say that you "need" an LLC per se, but there can be some big advantages.

@Ross TramplerIf you want an owner to allow you to lease with option, see houses for sale and for rent on Craigslist in SE NH and NE Mass, it is expensive as I grew up in Boston, Try to get market rent and a new appraisal and a property inspection to find defects.

I almost have 1-2 student, though I am not doing student housing per se...

You could do MIRR for reference, but this isn't what you're going after here.Cap Rate is not a metric of financial return, per-se.

Watched the RBC Heritage Tournament, and spent some time enjoying the island.Question for you--If you were to purchase a vacation rental in the SE (Hilton Head, Savannah, Charleston, Myrtle Beach, Jekyl Island..) where would you consider?

and have a few questions related to calculating deals.I'm in SE Florida (Palm Beach County) so rental activity is pretty high but seems montly rentals on properties are a little low.Q1: Is there a general rule of thumb anyone uses for calculating rehab costs, (paint, carpet, etc, )?

Hello,I am about to close on my first rehab project in the Se Portland area.

I work in SE Aurora and have done dozens of projects down here.

SE Salem and Central Salem are probably at the end of the list, boasting the cheapest prices in the city.