These will be more expensive projects, but the house would be greatly updated and more appealing.2.

Many of these lenders allowing 2nds behind them are more expensive capital (10's - 13's in our current market [high rates - but now showing signs of coming down]).

Be sure to have the gas, water and sewer lines inspected as these may be dug up or collapsed - and very expensive to replace/repair.

i have much higher expenses and more headaches of course, but cash flow is higher.most major tier 1 or tier 2 cities should have significant enough rental demand to be able to implement this strategy pretty successfully. 

oh, and since we are in Western Washington state, it is very expensive and tenant friendly.

I bought the land outright but financing the mobile at the time was difficult and expensive. 

What matters is whatever number you have after subtracting from your rent all expenses, including depreciation ("net income").

As already mentioned, you could sell via seller financing to lower AGI, as all you would have to claim is the payment income - until balloon payment received.Did know an investor that had 14 properties paid off and he moved into one every two years to then sell with the $250k single exemption.

.: I recommend you invest between your two ears as much as possible, whereas 20 K is not going to get you very far in and of itself.I have a masters (student loans paid off) and read 8-10,000 pages a year.

Expenses do not take a break so until you have no expenses taking breaks should be quick and infrequent.