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This strategy is working great for me but I'm interested in what  strategies other members are utilizing to target highly motivated sellers?

Don't leave income on the table just because you will be taxed on it.3) Most real estate expenses are deductible in the year you pay them, especially if the benefit is immediate (like a utility payment or property tax).4) Some expenses are prorated through the life of the improvement, such as depreciable buildings and roof repairs.

The seller told me that the tenant was on a month to month lease & is way behind on rent and utilities.

My thought would be to later utilize the land as one mass for rebuilding.Thanks

Step 3: Don't include utilities.

During the Master Lease term, I will have the right to collect all rents, the responsibility to maintain the property and pay all expenses and mortgage, as well as will have ownership and right to access and utilize the equity in the property as I see fit.

However, I have heard that in other cities they do not utilize MLS as much for rentals.  

I secured it up to $1000.00 so I could easily pay for things like my gas groceries and phone while only utilizing 20-30% of my balance, which I have heard is the key to establishing credit.

I would like some thoughts around successful transition plans some of you have tried to increase rent, move some tenants out and transition utilities back to all tenants (water is currently paid by the owner).