It's tough to spend that type of money when all of that information is free.

What made you interested in investing in this type of deal?

Contract price: $1.73M, "as is" appraisal: $2.1M, "improved & stabilized": $3.4M.What made you interested in investing in this type of deal?

I think handwriting these letters will be much more effective than just a typed-out print.  

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?

But in general, with rates the way they are, it's a break even at best type of market right now.That said, like you seem to have a feel for, appreciation is where the majority of wealth is built in real estate.

Many brokerage firms say they offer self-directed accounts, but when you ask about real estate, they will not hold that type of asset.

I see the IRS regs about rental activities being defined as passive, but I don't see anything about a lower rate.I just see that this "passive activity" distinction subjects us to "passive activity loss rules", which limit our ability to offset other types of income with net passive losses.But even that limitation is negated for us because we fall into the "active participation" exception, so we can offset our regular earned taxable income dollar-for-dollar with losses from our rental (if I understand the regs correctly).

What made you interested in investing in this type of deal?