It can be if there are politics involved, but that would entail 99% of the economy where there is some sort of regulation on every issue in the economy so that would make every financial conversation political in some way.

Conversely, if I can only sell them for $100K, but can make $100K/year renting, then I'm a landlord.

Help from an experienced CPA is a plus.Bob_in_VA - I'm in VA also and I can help you if you get confused or would like a more indepth explaination of some tricky items.

She hit the roof and let me know how mad she was at me for buying it anyway after she told me she didn't want to spend the money on it.Today, she loves the property and when it comes up in conversation she refers to it as "ours".

Personally for me I would want to find a local deca-millionaire veteran/seasoned investor that has a business plan that is very similar to mine and work for him (small maintenance items, cutting grass, collecting rents, placing bandit signs, researching deeds, etc) free of charge for a month or two as he explains to me why he does what he's doing and takes me with him when he's analyzing and negotiating deals.What I don't like is the fluff in the guru pitches that don't really tell you what to do and make everything sound like it's as easy as buying a certificate of deposit.

Looking forward to your conversations about appraisals!

Went from 1960's to modern without tearing out one item, and it appeared ALL completely had been replaced quality wise.

Don't forget to add in all the items that everyone leaves out of their APOD when they are marketing their property (management cost, repairs, professional fees, etc) With a 12 unit depending on what your business plan is shoot for $800-$1200/month positive cash flow.

If you are really close, then any major rehab item might cause you to scrap it.

The guys I had hired to clean out the apartment then took these items to 'who knows where'.Said tenant has now sent me an informal letter stating that he has gotten back on his feet after a divorce and now has the means to properly and legally sue me for improper eviction proceedings and theft of his personal property. he states he has spoken to several neighbors who will attest to the fact that his property was loaded into a truck and stolen. he also states that he documented with witnesses several calls he made to me asking where his things were and if there were any storage fees involved.