*This post does not create an attorney-client relationship or CPA-client relationship.

-The house Is in New York has- he has a fire extinguisher company and won't list it because he actually services many of the real estate companies and is afraid to favor one or the other and inturn lose a client- he has nine houses in Pennsylvania - original loan was 660k 760k if I remember correctly - has paid 250k- has all floors ( basement, 1st and 2nd) rented only top floor has a lease total rent colle is 5500- supposed market value is 1.1 million - he's willing to take 960k- might be open to terms since he's already renting.As long as he keeps the title-sounds like the house doesn't need many repairs but i have a friend that is a contractor and he can Help me assess any repairs Hes a savvy new yorker so  I rather give him options instead of just 1 cash offerCan anyone help me figure this out ?

I used to sell them back in the day and one client had purchased a $995 warranty and put in approx. $60,000 repair requests.Also, they use independent contractors who will do what they can to replace what they can get away with charging the warranty companies.  

A large dilemma for my client was should I put 20% down and erase PMI/increase cashflow or put 5% down and do a little bit of value add.

Our job is to help and eduate clients along the way.

They need a new lease and wanted to be my first clients.

Part of my motivation for jumping out on my own was the ability to partner with a good friend who is a 20+yr GC and in our conversations the past few years he's had a big desire to do flips and move away from client work.

The situation as I see it goes like this: I offer a way for a client to purchase a home and education/information on how that can happen for them (fixing credit, saving money, etc) and they are successful and in the end own their home...... or.... they do not follow the suggested path and they lose yet even more money. 

I would never advise any of my CPA clients to put rental properties inside an IRA. 

I have managed 200+ units at once and can tell you that starting out you should focus on setting up your processes contracts and such, then scale to larger properties.For our clients that manage themselves we try to set them up with as much of the infrastructure as possible so that they have a head start and can just worry about the normal tenant issues.