Ken, the mileage deduction is $.555/mile... driving 220 miles a month is a write-off of $122 and 4 hours of your time each month.

You could also use spreadsheet software.

Good opportunity; Might fine tune this, looks like it would be 4 years of rent if that's the case.Why not do an annual lease with an automatic renewal that makes it likely that the next year will kick in and continue unless you both agree to terminate (but he could terminate following certain steps).You sign a note, you write him a monthly check, he endorses it back to you for rents or exchange checks.

Of course, if you are writing lots of offers and can't have one of your GCs go to the property before writing all of your offers, make sure the HUD properties are the priority.

I write all my offers cash because I can show cash.

Also add  non compete clause, which protects both of you PUT EVERYTHING IN WRITING.......

When you write a cash offer it means you are offering to pay cash for the property, not that you have the cash available.

You can also write it off as a legitimate business expense, so why not?

Mark Podolsky Just read the article and it is pretty awesome, I will focus on writing down things I really want to do and do them.

Looks like I need to start writing books about how to identify potential profits of a property.