Then you can compare the new estimate with your current contractor's estimate to look for similarities and anything that seems out of the ordinary.

Plus, my "flip" type profit of around 30% is all I have invested in the property.....and by holding, it's not taxable today (but deferred until I sell).Fix/flip is taxed immediately as ordinary income.

Depending on individual circumstances self-employment taxes would br roughly 12.2% above and beyond ordinary income taxes... 

My lease states that tenants are responsible for all ordinary Landscaping which would include watering, mowing, and weeding. for larger tasks like pruning trees, I prefer to hire contractors that know what they're doing.as for pets, you can place restrictions on breed, size, or type.

I recently purchased 2 properties from an investor as my first 2 buy/hold properties, and I have some questions, and or seeking advice, and would like to get some input from some more seasoned pros in this business.The following information relates to the purchase of these 2 properties:2 patio homes right next to each other- Purchase price of $110K each- Appraisals of properties were $127K, and $126K- 15% down on a 30 year conv. loan @ 4.125% (Did 15% so I could purchase 2 properties vs. 30% onto one property)- Rents were $1100 per month each when we closed (at least they were supposed to be... 

An IRA doesn't add any benefit and could be worse if the distributions are taxed at your ordinary income tax rates.  

I am looking in another townhouse with no HOA on Patio Road.

It had updated paint and carpet, a newer kitchen, nice covered patio, and forced air gas heat.

I'm late to the party on this post, but the only thought that crossed my mind regarding the seller's interest in beefing up the price is that he will still be on the hook for ordinary income tax on the difference between sell price and mortgage loss.

One such example would be a back patio enclosed to be an office, another one would be a master suite with two large walk in closets and they closed one off, the closed off closet now has a door to the hallway, but its a closet.Does it have windows?