Hi, I bought a home last year in Lancaster, California.

Most amounts are too small for the hassle, and again, that becomes litigation, not simply an audit.Creative finance buyers, I do not believe it's a winning argument to the IRS to say that you bought the property, didn't make the payments and you took the write offs anyway.

All the people I know who bought there did it for lifestyle.

When they need the money, we know this property will appraise for 40% more than we bought it for.

I should probably add, that I do the same thing here: most of what I bought in the last 3 years does not much better than break even, but I am buying in the best possible neighborhoods that still work as a rental.

It was the same price as the 1st property I bought except twice the size and two of everything.

Luckily here, but the time I'm done renovation we will be heading into the spring market - so that should fair better for marketThe other tenant dropped a bomb on me and told me he bought a house.

I bought a house 3 years ago with $420K and after 3 years the value on Redfin is about $460K so the appreciation is about $40K.

I bought a 16 unit apartment complex that was a expense nightmare, with low rents, that I eventually gave up trying to make profitable. 

I have a $2M building I bought for $935k, 3.5% down.