She also told me that the income from my duplex would not be counted until I had seasoned (owned) it for 2 years.I believe this is because it is owner occupied, but confirmation from one more experienced is definitely welcome.

This includes any cost we may anticipate in running the office, also is we want to have a software program on line, this would be included in there.

This is a homepath +Renovation propertyTax Appraisal Value $165000List Price $104,0005% down required $4880Unit next door (same design) apartments rent for $500 eachMortgage Payment at 5.5% x 30 Years = 537.54Property Taxes = 228.14 per monthInsurance $450.00 per month5% for maintenance $100.00 per monthMy calculations leave a monthly cash flow of $928.00If I use the 50% rule (and I am calculating it correctly) I have a cash flow of $439.00I am assuming that I can renovate this property for $10,000ish and it appears that there is currently tenants in at least 2 of the units (havent confirmed this yet).guys this is kinda scary cause it appears to good to be true....

Just wondering what software you guys are/have used that you could recommend and why you like it?

Your responses have certainly confirmed my suspicions, that I've simply been handed a giant sh!

Account Closed  does this software make it easier for newbies to get started? 

Hopefully a CPA here will confirm (or correct) my answer.It is my understanding that closing costs go into the basis of your property.

A borrower has equity of redemption up until the confirmation of sale by the clerk.

The only real estate I currently own are our houses, all 100% paid, and the building in Seattle where the offices of the software company I run is located, again 100% paid for.Given what I firmly believe is coming, those using leverage need to be keenly aware of its risks and the warning signs indicating the need to reduce that leverage.

I called an confirmed and we're set.