@Tim Mensch Send me a private message with the approximate square footage & town/county that your client is looking.

Hi Everyone,I am graduating college this May, and am looking to buy a 3 or 4 unit property as an owner occupancy- does anyone know if you can set up a home office and deduct the sq. footage as an expense, even if you own the property through an LLC/ Title holding trust?

J Rod,I don't know the total square footage.

I also wasn't sure about how the square footage of the house is affected by this.

There are a lot of gamblers and high-risk investors that would lowball the price and then price for a worst case scenario for the interior of a certain square footage and planned use.

Address: Westcliffe Ave, Richmond, VA 23222Type: HouseBeds/Baths: 4/2.0Square Footage: 1,514Year Built: 1945Lot Size: 4,356 sq. ft.** Purchase & Rehab **Purchase Price: $115,000 ($76/sq. ft.)Purchase Costs: $3,450Rehab Costs: $7,500Down Payment: $28,750Total Cash Needed: $39,700** Financing **Loan Type: AmortizingLoan Amount: $86,250Loan to Value: 75%Loan Term: 15 YearsInterest Rate: 4.5%Monthly Payment: $660** Cash Flow (Monthly) **Rent: $1,260Vacancy: -$126 (10%)Expenses: -$504 (44.4%)NOI: $630Mortgage Payment: -$660Cash Flow: -$30** Returns & Ratios **Cap Rate: 6.6%Cash on Cash: -0.9%Return on Investment: -3.9%Return on Equity: -0.9%Internal Rate of Return: -3.9%Rent to Value: 1.1%Gross Rent Multiplier: 7.6Debt Coverage Ratio: 1

Location, square footage and number of beds/baths will be the biggest factors.

The The house doesn't have a garage which are very common around the area and the SQ Footage is a bit over 1000.

Using sq footage and number of tenants the tenants are billed back each month with little or no kickback. 

I have taken care of violation fines out of profits as a term of sale, I have provided a scope of work, I have passed on septic inspection footage, etc.