The MIL suite had 1bd/1bath, living room, dining room, and kitchen.

It cost me a whole $250.I don't have to worry about this clause or that one.The main thing is I'm protected and can walk away at anytime with no worry.Best money I spent getting started.

Example replace a few circuit breakers,electrical outlets,switches and electrician costs hundreds and hundreds or more to do the work.You can do it for 40 dollars in parts if you know what you are doing.A plumber soldering pipes in the wall and changing a main line instead of saving 75 in labor I will just let them do it.It's all relative.

Its a good read and will essentially give you a crash course on one of the main staples of a wholesalers business which is finding buyers for properties you put under contract.In fact, the entire wholesaling forum would be of great educational value to you if you are a newbie.IMHO @ a very high level your wholesaling business should look like this...1) Market for wholesale properties.

The main point I want to make is that these classes may not be tax deductible like you would assume they are.

A seller is looking at doing owner financing.I would be wrapping his note.Property insurance is not escrowed so that causes fewer issues.Sellers main concern is that we owner finance and in say 3 years I get tired and just give the property back to him.I am putting nothing down which he is fine with.Looking for thoughts and ways to make him feel comfortable with this issue.He owns other classes of assets besides apartments and is focused on them.I already own a bunch of other buildings in the area and told him I have staff on site so it wouldn't be an issue.This is for a quad building.Many investors buy with one thing in mind and then sell to you down the road for other reasons.Since I am a commercial broker I have multiple exit strategies already planned out for the property.

What is your main goal with investing?

Ground issues mainly, broken outlets need replacement.5.

Once we valued the amenities of the lot, we'd design a basic home to determine where views would go and then place kitchen/dining area, great room or family room,master and office to use those amenities wisely.I've seen some great lots where the builder took a plan out of a "100 floor plans" book with no consderation to lot!

They could do both; however, the main key is that the rent must be "Fair rental value" (the going rate of a rental of that type in the area).Yes both can be done if you are renting for profit at market values.