Hello all,I'm just looking for a little advice and I know that the Bigger Pockets network will have some great stuff for me :)  My wife and I just went and looked at a house that is bank owned.

I’m hoping I can get as much knowledge as possible from bigger pockets that will ultimately result in getting my foot in the real estate buiseness! 

We will be selling it soon without taking a loss and he will no longer have a mortgage to his name.

Mostly just Iowa law stating landlord must attempt to mitigate their losses by re-renting unit as soon as possible. 

Second, you could buy a bigger place and rent out rooms.

Hi Stacie,There is a Bigger Pockets Real Estate Investors meetup coming up soon.The next event will take place on Friday, October 19th at 5:30 PM @ Ballast Point - Miramar.Address: 9045 Carroll Way, San Diego, CA 92121.Check out: https://www.biggerpockets.com/forums/521/topics/623256-san-diego-real-estate-investor-happy-hour-friday-october-19th?

The bigger pocket calculator gave me the ranges for repairs and cap ex. 

Appreciation and equity however play a way bigger part in the Austin market and what my clients focus on when purchasing duplexes. 

.- If you have a loss which you might at least on paper, you can deduct all looses against your W2 income without limits.- Structure: Form LLC, if you have looses don't treat it as an s-corp yet, since it is an added unnecessary cost at the moment but do form it.- Have kids: Hire them, they pay no tax up to 12K each and you get to deduct 12K.

I’m very excited to be joining the Bigger Pockets Community!