Anyway the point on the land basis is if you have a very low basis you have just now subjected your land equity to ordinary income and market risks on top of it.Plus personal risk on the loan if it goes bad do you have the money to pay the first off if you need to.  

Your total income is low enough (under $150k) where you can take some losses from your non-STR rentals, and you have room for more deductions.5.

Is this just a function of low inventory, high interest rates, and high taxes? 

The property required only $1,500 in minor renovations, making it a low-risk, high-reward investment.

Fund in 5.

I love how you laid yours out for us, @Bonnie Low!

I pay my own mls fees, marketing and expenses, but I keep my expenses low, and savings involved on one transaction usually exceeds my annual expenses.

typically we do not provide frigs. sometimes in low income properties we have to. in that case used is 100% the way to go. the water and ice makers are the major issue we have with frigs. so try not to have those if at all possible.

It's been 5 mths have they funded a deal for you? 

The property required only $1,800 in renovations, making it a low-risk investment.