I did not mention in my opening e-mail about the financing.

for a conforming loan they will apply 75% of the income from the property toward the payment, after 2 years of having the property on your schedule E, they will go by the actual cash flow from the property.I do a hard money loan, then after a tenant has moved in, refinance to a confirming loan, using 75% of the lease amount toward the PITI of that property,,,,I'm sure there is a way, with that much cash, that you can do it without the expense of a hard money loan,,talk to a mortgage broker that deals primarily with investors and they will find a way to make it work,,,andy

Can I just have him do a quitclaim to me and claim the whole thing on my Schedule E?

We have a part-time bookkeeper who e-mails us the updated quickbook files of each property at the end of the week for us to review and to pull reports.

If you include utilities within the rent, be certain to set your rent high enough for the worst case as they will keep the thermostat high, lights on, and, perhaps, even open a window from time to time because it has gotten too warm.We never rent with utilities included, but we have a option which gives the tenant the convenience of not having to put utilities in their name, but still holds them accountable for their usage.  

I'm looking at John T Reed's books and they seem to be up that alley but he doesn't have his books in e-format (I like my kindle).Thanks

E. world, John.  

@nick e.

I stand corrected, it is Facebook co-founder Eduardo Saverin who had renounced his citizenship prior to the Facebook IPO, not E.

Here are some references for ambitious learners.Uncle @Bill G above likes to lecture.http://www.kapre.com/real-estate-coursesget the broker course books. aint easy.Bookshttp://www.amazon.com/Blacks-Dictionary-Standard-N...http://www.amazon.com/Examples-Explanations-Real-E...http://www.amazon.com/Dictionary-Estate-Terms-Barr...http://www.amazon.com/IRA-Wealth-Revolutionary-Str...http://www.amazon.com/Finance-Real-Estate-Place-Ti...http://www.amazon.com/Retiring-Right-Third-Success...http://www.amazon.com/NLP-Essential-Guide-Neuro-Li...http://www.amazon.com/gp/reader/0793136601/ref=sr_...http://www.amazon.com/about-Escrow-Real-Estate-Clo...I have been at this 32 years and I am still learning.Bill G I think is 80 something.