Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Use my free editable Net Worth Worksheet that I created to track all my assets, liabilities and expenses and what I still use today to keep my finances in line.Line up your professional partners.

Use my free editable Net Worth Worksheet that I created to track all my assets, liabilities and expenses and what I still use today to keep my finances in line.Line up your professional partners.

What I don't like about the property:Location (possibly, but that's why I'm coming to everyone on the forum for advice)Possible costly repairs to fix the upstairs units, the bones look good from the pictures but I understand that it would need an inspection from a professional to assess things like the roof, electrical, plumbing, etc. 

Please do a cal or get a professional to do it for you. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Purchase price: $233,000 Cash invested: $10,000 Townhouse2 bedroom 1/2 bathroom1 car garageUsed as a rental, tenants are both professionals.

As you mentioned you should discuss with your tax professional since he/she knows  your individual circumstances and can guide you as to what works for your situation.

You should be going to an attorney and CPA and speaking with both professionals to make sure everything is done correctly from the beginning.I have seen quite a few boilerplate legal agreements from those online websites.. hate to tell you.. they are all terrible.

I meant if leases are in place and the building is being professionally managed, underwriting may be willing to include the rents in your qualification even though you don’t have rental income on your tax returns yet.