Utilities for the Rented HouseDeductible as a rental expense from when the property was placed in service (ready to rent).

@Tyler GarzaYour "buy a new house, rent the old one, and trade up" strategy is a solid way to build wealth, but there are a few key factors to consider.

This property has been flipped, and rent exceeded the one percent rule.

I was thinking about pulling 100-150k out of my house (currently owe 150k but worth 600k) to buy something to rent.

or build to rent development as a strategy?

Quote from @Steve Tokita: I am an out-of-state investor living 1500 miles away from three properties that I am currently renovating to rent or to flip. 

Navigating eviction and collecting past due rent can certainly be challenging, especially while managing property from out of town.For managing the process remotely, I’d recommend joining the **Chicago Friendly Landlord group** on Facebook.

If it's a lot of paint, I would rent a drum sander and run over the spots a few times.

The proposed rent from the income property can possibly help you qualify as well. 

It's nothing spectacular, just utility bills, trailing 12, rent rolls or whatever he's got so I can build an accurate assessment and make a fair offer.