You'll pay the 1st month's worth of interest & property taxes (you'll eat that unless you can get rent revenue on the day you close).

Buy and hold investors in my area eat these up.

Or are those sorts of costs just losses you eat?

That simple says that over the long term for a portfolio of properties, vacancy, capital and expenses will eat 50% of the gross scheduled market rent.

The duct work is cheap, it's the labor that can eat you alive.

That rule of thumb simply states that expenses, capital and vacancy will eat 50% of the gross scheduled market rent.

Don't drive a car you have to make a payment on, don't eat out, don't buy things you don't need, don't worry about brand name worry about price, and get your family on the same page.

This shows, as other have suggested, that short sales - while potentially lucrative - shouldn't be the only egg in your basket of investing strategies.

Not saying some niche won't keep you busy, depends on the market, but the more you know the better you will eat!

I'm calling BS on this info from you accountant until he produces a link to the rule or reg...If he does, then I'll eat crow along with the others :) If he doesn't, you should consider getting yourself another accountant.