I am in a similar situation to you in that I am in a 100% commission sales job and the number of deductions and the whittling away of your effective tax rate is very powerful once you can wrap your head around the numbers and the big picture.

I got interested in real estate investing last year and since then have read several of the BP published books on real estate.I still have a lot of unanswered questions floating in my head but my goal is to buy my first property and some point next year. 

Am I able to raise the new lease by 262 and put the unit at the FMRAlso, can I find out a head of time if the housing authority will pay it ? 

My thoughts on turnkeys is simple: get your head examined.

You hit the nail on the head when you said that you can essentially make more money while managing the same amount of assets and that's a really critical point.

Keep your head up, Leo.

I'm trying to wrap my head around working with investment capital long term, and there's also the potential for some seller financing from the building owners, and my cousin is on the board of a bank which could also come into play.

Steve: This is a long and twisted pathway you are on.

I would suggest a sit down talk about this to give the others in the unit a heads up of the coming changes.

College kids and someone of that age under the same roof tend to butt heads....Here are some key things I've learned after 4 years of landlording/house hacking: 1.