@Ryan ThomasRetain receipts, maintain a log (who, what, when, where).Doing the above doesn't necessarily mean the trip is 100% business, but will help substantiate the parts that were business.Also, it's very possible some of these expenses will have to be capitalized and won't be able to be "written off".

Just trying to mitigate risk and increase chances of profit in the future and while stumbling across real estate I realized it’s something that greatly interest me and I enjoy studying, researching and participating in it.

Then I got busy dealing with renting our old home and rehabbing/selling the mother-in-law home as well as a maintaining a full time IT job. 

On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.

I have been studying REI for the last few years and have done a few things.   

Being next door, tenants can be better in maintaining there 1/2 since you see it every day.  

I have devoted ALL my free time away from my full time career in Land Surveying towards learning and studying REI.

The criteria I like to maintain in my search of properties are generally: Owner Equity - 30% or moreAge of Occupant - 45+Years Owned - 5+ yearsProperty Type - 1-4 unitsExclude Corporate OwnedExclude Trust OwnedOwnership Type - Absentee.

Property X:Cost of Leverage - $380All associated Real Estate costs to maintain a valid investment - X (we'll say $600 because BPers say half of rent will be operating costs)Cash Flow - $220Rent needs to be at $1220 (also the market needs to allow for this to be the going rate)If all these things are in place then its a definite property for the portfolio.  

Investment Info:Single-family residence buy & hold investment located in Indianapolis, IN 46234.
Purchase price: $99,000Purchased through Roofstock.com. Updates coming soon.How did you find this deal and how ...