None really reduce the amount of money they have to come up with, but if they are broke as a joke do you really want them as your tenants?

Purchase price: $130,000 Cash invested: $9,000 Sale price: $185,000 I did not have the knowledge then to keep the property and pull money out to complete renovations to another property we purchased a year after this one that required a complete overhaul.

Now having a trust to avoid probate, care for young children or folks not ready to inherit large sums of money yet are very good reasons to have trusts.

I am finally at my two year mark not being W2 so if I can skip past DSCR loans and the such that would be much preferred as I dont want to pay the fees if I don't have to as I am trying to get some money I put into each unit to renovate back out of it. 

I actually lent the money to the purchasers to buy the Park. 

COC will make you money now and appreciation will make you wealthy!

You could always get the extended warranty and still save money over the 3k model.

To get things "shaking and my blood pumping again" lol as money is tight.

So your super basic P&L may look like: $30,000 Rents-$3,000 insurance expense -$9,000 interest-$3,000 taxes-$8,000 operating expenses-$14,000 depreciation ----------------$7,000 loss on paper for the year  so negative taxable income But remember- $14k of that (depreciation) was something we didn't actually spend money on- so cash in bank at year end would be $7,000. 

If you find something that works well as a short-term rental, but doesn't work well for you as a home, you'll have money but be dissatisfied when you live there.You don't even need it to produce a profit.