If you make any offers on listed property in Texas, you will have to use the TREC contract anyways, so it's good to know them.I use a simple one page contract for most of my deals, but it is not a very strong contract.

We will have to buy it then get up there and see if it needs a new roof'.I would strongly suggest you determine if it needs a new roof BEFORE you buy the house and that you do a more thorough inspection to see if you will need to replace the decking.

I would strongly urge you to join at least one of them and attend every meeting.

Unless you are gaining some kind of upside on the property like a strong appreciation, then negative cash flow is not a good investment.

Noobdog, your post all makes sense to me but as someone who is too new at this stage to consider setting up a formal business entity, here is how I *believe* my tax situation breaks down at the moment:o If I can write off enough depreciation, mortgage interest, maintenance, etc. to offset my rental income, I break even on my taxes because I'm a passive investor with a strong AGI so no loss allowed on my taxes.o If I don't have enough expenses to offset my rent, I end up paying taxes on my rental income.I'd be happy to hear if I don't understand correctly but I've read the tax code over and over and seem to always come up with the same answer.

This next year probably won't be as strong but still very good.

preferably DC metro area, but would consider any strong recommendations.

I'd strongly suggest you have your own attorney who is looking out for your interests.

If you are driving around, Clearwire gets a strong signal about 70% of the time.

It's a duplex in a lower income town that has a strong rental market.