My schedule E shows rent income, and after expenses such as repairs, taxes, utilities, etc, I ended up with a net loss.

So we're not committing to anything until AFTER we've had time to verify everything.Regarding costs that we pay out of pocket - Any costs that we (xxx or I) spend out of our pocket (i.e. materials, utilities, insurance, evictions, taxes etc) we would expect to be compensated those costs back at closing.

Vesting: Once the acquisition is completed, everything has to be vested in the name of both owners, (i.e. the utilities, agreements, etc.), else it can be considered as benefiting one over the other.Income has to be divided up-front, i.e. cannot be deposited in one account and then split from there (this is where a property manager will help as the rent can be collected by them on behalf of the owners).Not familiar with a custodian form 490T, would you please elaborate?

. $67PM 10%Repairs 5%Utilities 5%I'm sure I'm missing a few things.

I will be utilizing an FHA loan for my first multifamily and I will need just about $15k more in capital to have a good down payment and 3 months of reserves.

Contacted the local utility for an availability work sheet for the exact property3.

The locator line helps the utility company mark your sewer line when you have your utilities marked prior to digging in the yard somtime in the future.

We get the CFLs free from our local electric utility.  

Once the stuff is out, if no one in family wants it, they're going to want yo get out fast, especially when utilities start coming due.As long as you approach it with compassion and present it as an option vs.

Different areas have different tax rates, insurance rates and utility who pays.