Do you operate in Milwaukee?

When you factor in the 50% reserve, this is basically saying that you take 50% of the top of the gross rents and save this for maintenance, repairs, and other operating expenses.

Equity REITs own and operate income-producing real estate, while mortgage REITs lend money to real estate owners and operators or deal in the acquisition of mortgage-backed securities or loans.

I have also partnered with Dave on several parks- though now that they are really operating as a fund, I no longer am partnering with them.

If so then here is the cash flow:$14,940 :Annual Rent- $1494 :Vacancy @ 10%$13,446: Gross Income- $1,345: Repairs at 10%- $2,110: Taxes- $1,163: Insurance- $ 336: Utilities @ 2.5% (Covered for vacancy)- $4,953: Total Expenses$ 8,493: Net Operating Income- $8789: Mortgage Payment of $732.38 x 12 Months- $ 296: Before Tax Cash Flow.It is going to cost you $25 out of pocket every month to own this property - that is if everything goes well.

If your home doesn't qualify for the home office deduction because it does not meet the 100% exclusively for business test, why can't it still be the base of operations for your business?

If the landlord is paying any of the utilities then, imo, you really want to analyze your numbers and net operating income as heating bills in IL might be a whopper.And why so long to close?

This is similar to flipping businesses in USA having their operations taxed as corporations.

Do you think it's sufficient that the management company "signed off" on the operation of the smoke detectors, or should I have the management company go back and have each tenant sign something stating that the detectors are in good working order?

Do you think it's sufficient that the management company "signed off" on the operation of the smoke detectors, or should I have the management company go back and have each tenant sign something stating that the detectors are in good working order?