Kim Forgione Banks have their own internal process for cleaning the title and then getting a property ready for sale.Any number of reasons can tie up a property in legal issues like other claims to the property or a previous owner declaring bankruptcy.And the bank will also hold off moving inventory until they feel like it’s the right time to put it on the market.

Although I have little cash on hand (most tied up in my business), I do have a lot of experience in rehab/remodeling.

I assume so because you mentioned a lakehouse.I use crimp connections for all my PEX work (except when I have to tie into existing copper), and have not had one fail yet.  

, I'd just be disinclined to tie myself to it. 

All this really ties into a central concept: landlording in this properties is very much a part-time job, not passive investing.

I am claiming that revenue as taxable income and am wondering if I am able to also claim a percentage of all of the expenses tied to the property?

I used to post a lot on the Aussie version of BP its call the property investing Forum and the out of country part of the Forum back when the AUD was stronger than the dollar had many many folks participating now your lucky to find one post a week.. and US marketers together with promotors from OZ just hammered the OZ investor with BLUE sky and no real mention to the dangers of low end assets in the urban cores..

If you wanted it tied as a second (like form a private individual that wants security) then the bank will care but even then not too much.Like I said some will consider this too risky and I would only say it isn't because these properties have excellent cash flow. 

You may not want to wait the 4-5+ years for the market to get you to where you want to be.To tie my point in, people tend not to over pay in the investor market. 4plexs are classified as residential properties and have to be evaluated as such using the comparable approach  it is what it is. 

You'll have to look aroundbutmyguydoes it for $300 as long as the elecelectrician has done everything so he can just tie into the quick disconnect.