I’m a pretty simple guy.

Our credit is pretty strong, we only have about 7k cash on hand, and we screwed ourselves into a good bit of debt.

Sure the sale failed, that's a pain, but $50k windfall was pretty nice, no wear and tear like collecting rent anyway.

My mom cant work at least right now due to health issues.We have been renting a condo all the time but now since I know quite a bit of real estate I have been telling them that renting tnalthough it was convenient due to different factors it has also been a waste of money.

You should start there as it as pretty much all the information you need to punch in.

So far the experience level of the people I have met there has been pretty low which I understand that they are there to make contacts and learn (everyone needs to start). 

@Min Wang At first glance this seems to be a pretty solid property.

Adding in the rent from the other side, the property would still be pretty negative on cash flow (largely due to the FHA loan w/ minimum down, I know).MAYBE I could bring the rent up over the next 3 years to where there is positive cashflow; MAYBE appreciation will be such that I could sell at a gain in several years. 

Hey All,last time I was in Tulsa and OKC this worked out pretty well so I thought I would try it again! 

.- Section 105 plan: Make yours and your family health expenses 100% deductible.- Augusta Loophole: An S corporation owner can rent his or her entire home to the S corporation for up to 14 days per year and get big tax deductions.