It is very common to spend 100K on a rehab in Newark because often there is TONS of maintenance, and things like water damage can lead to major structural and framing issues that need to be addressed, original wiring (which is often unsafe), galvanized plumbing pipes, old windows, heat systems, ect.

Here's my question: Could my expenses to fix up the house (it needs a lot) be used to offset the Penalty and tax I will generate from using this IRA?

Here's my question: Could my expenses to fix up the house (it needs a lot) be used to offset the Penalty and tax I will generate from using this IRA?

Glad to hear a unanimous agreement in Property Management - luckily I already have a lead for a suggested PM!

On the deal I closed last month, the system the seller used could not generate T12s so I asked for and received monthly P&Ls going back five years. 

Add a 5th or 6th tree you end up with a park and many many trees lead to a forest.

Doug, Please explain how you handling leads from realtor listings. 

This fact alone is leading me to believe that I should convert my condo to a corporate rental.

I'm going to be financing the deal. found a few ranging from 260-330K, All 4 plexus all leased out also. one generating $3450 month and the others are around 4k month.

No need to highlight that I never should have signed--I am aware and there is a HUGE back story as to why I did that is not significant to the question at hand.Due to frequent flooding, we were planning to have an overhead sewer line installed, as well as a sump pit for the basement plumbing, an ejector pit for the upstairs/exterior water that was leading to the flooding, and tying in the downspouts to the mainline at the front exterior of the house underground.The project, which was estimated to last about 15-20 days, took more like 10-11 full days.