I secured financing using an owner occupied fifteen percent down loan.

I noticed the seller provided documentation that none of the units put down a security deposit so that raised some red flags.

There will be ups and downs (like the AirBnB property in Costa Rica where that woman was murdered and they arrested the security guard) but by and large I think it is here to stay.

Hey Pamela, In my experience a good property manager is worth their weight in gold.

Rental income is shown on sch.E which is not subject to social security taxes (like FICA) but all the other taxes.When you're renting property vs owning, you can't depreciate it but your rent payments are totally tax deductible (vs only interest on mortgage is).Insurance: you'll have to get Tenant or renter insurance which protects the property and your liability if someone slips and falls, set building on fire etc. this is not your professional insurance - just regular insurance you have for your home.I don't see how kind of entity will affect the taxes: if it's just you the owner, LLC will be disregarded entity and shown on your own taxes, only on different schedules.

Hi everyone,I have read several books, listened to many podcast, and educated myself anyway I could and one question that seems the most difficult for me to answer is "do I get an offer accepted before I secure financing?"

Purchase price: $2,000,000 Cash invested: $1 76 unit value add apartment complexCurrently cash flowing at a 9 cap rate with 17 emptiesThe plan is to invest 20,000 in renovations into the empty units and have it performing at a 14.5 cap rate.Property was purchased with the seller carrying 10% and the other 10% was secured through equity in other properties.

Sellers were motivated to move quickly and we were able to secure a price way below market for an easy assignment to a rehabber.

How much are each of them weighted?

Bonk yourself in the head or snap a rubber band against your wrist any time you start thinking of price per square foot; price per square foot only carries weight with consumers trying to fight appraisals, not with appraisers.