I think everyone should have of copy of "The Creature from Jekyll Island" Although, since it is out of print (hmm), here the author lays it out nicely in this you tube series.

It is a fully rented two family home and has little improvement costs and a solid cash flow.We are looking to find #2Both of us are concerned with risk.

Just a few months, he was saying that the economy would improve by the 2nd half of 2008.

This tab is where you would include any home improvements to the property.

I devoted a fairly extensive case study in my latest book trying to show that a single-family house, even if it's held for rental, is a critter that's quite different from a true income property.You might want to see an article I wrote that is directly relevant to your point about creating value by improving NOI.

There are no deductions for anything you're doing, with the possible exception of specific items like energy efficiency improvements.

The profit from your flips will improve your cash flow and net worth which will allow you to increase your credit line over time.It's not a problem if you are actually running a BUSINESS.Mike

I run credit, background checks, refernce checks, etc.. and I send them to people who can help them improve credit.

Then I used credit cards to do some home improvements, hoping that the house will appreciate.

For example, I originally wrote the property had a basis of $165k, capital improvements, I explained the recapture, etc... but the editor had the final cut....