To meet this requirement, you must spend at least 750 hours per year actively participating in real estate activities, such as property management, development, or acquisitions, and these activities must constitute more than half of your total working hours for the year.

I totally get why this might seem like you’re stepping into a deal with no built-in equity.

I assumed a total loan of around $90k with a monthly payment of just under $1,600 using a random SF property in Indy with a similar asking price.

Hre are the key things to knowWhat you are bidding on - often oddball properties that are hard to identify and have little value are auctioned offThe true as is value of the property, The tax assessment can be way higher or way lower than the true as is valueThe local laws and how they affet your total costs and returns

I totally agree, big investors can go nationwide, but knowing the ins and outs of your local market makes all the difference.

As of now, they owe me:Half of November’s rentAll of December’s rentAll of January’s rentThat’s about $5,500 total, which is a lot of money to lose.

Just to confirm on the duplex, you're getting a total of $2,600 per month in rent, is that correct?

If I had known the numbers they quoted me were total garbage, I could have sold my houses much earlier and saved about $80K in losses.

Closing costs typically range from 2 to 5 percent of the total loan amount, and they include fees for the appraisal, title insurance and origination and underwriting of the loan.”When it comes to closing costs, a trusted lender can guide you through specifics and answer any questions you may have.

Total system abusers.