One of those provides direction, the other manages every aspect of the business to include who sweeps and mops and what paper to order for the cash registers. 

If you've owned the duplex for longer than a year and it's on taxes, there's no restriction to the income that is calculated (as in it doesn't have to zero out; it can give you income on paper). 

I love that I do not have to print out my faxes and waste paper!

Just curious, Clint....is that enough of a legal paper trail to satisfy your accountant and/or the tax man if/when necessary? 

What if you show low income on paper is there still limits, it seems almost as if someone making minimum wage or even no income could buy a million dollar property otherwise as long as it showed a net positive to their DTI?

Many people buy in larger cities like this because the paper cash flow looks sweet, but the reality of it, across the board right now - good cash flow equals lower neighborhood class, more variable tenancies, and tons of hidden capital expenditures.

It is the GAL's job to do what those unknown people would have done, if they could.The auction is public, and advertised in the paper just like bank foreclosure auctions.

I know some buyers that will buy at a 14% yield for decent paper so if you can negotiate a better price then that you can make a small profit.Bob

Sometimes you can talk directly to the owners.Use the Internet - Websites can show you houses that are being sold because the owners couldn't pay their bills or are in other kinds of trouble.Check Public Records - Look at official papers to see if a property owner is behind on taxes or other bills, which could mean they need to sell fast.Study the Market - Learn about how much houses in that area usually sell for and how much you could sell it for after you fix it up.Be Careful - Make sure you investigate the property fully to see if there are any legal problems or money owed on it.By using these steps together, you can find properties that might be a good investment because they need work or are being sold at a lower price than usual.Kind regards,

Those cheap areas look good on paper until realize how high turnover costs truly are.