Total 109 SF.  

Hi all,I am a total newbie, havn't bought my first property yet.

Recent IRS rules have changed and now many such items can be written off in the year they were obtained - - this is why you need a CPA and not some tax service (HRB.s.) or online filing program.

I just ran a property that I would love to buy if I can find the private money or possibly the hard money at the right rate and ran it through the BRRRR calc.All looks great except when I look at the financial projections section I see the following...50% Rule Cash Flow Estimates Pre-Refinance Total Monthly Income: $2,850 x50% for Expenses: $1,425 Monthly Payment/Interest Payment: $600 Total Monthly Cashflow using 50% Rule: $72 50% Rule Cash Flow Estimates Post-Refinance Total Monthly Income: $2,850x50% for Expenses: $1,425 Monthly Payment/Interest Payment: $556 Total Monthly Cashflow using 50% Rule: $869Am I missing something or should the total monthly cashflow Post refi be that high?  

My goal right now is to be at 20 total units so I can quit my w2 after my kids are out of college when I'm 50.  

@Robert Herrera  I'm thinkin if I spend 3% to buy closing costs and another 8% commission and closing cost to sell (total $11,000) on a $100,000 rental and cash flow $300 a month it's a minimum of three years to get to the place of where I'm starting to get my closing and sales costs money back. and that's if I don't have vacancy's.

BUT the basement is a total disaster.

I am totally interested.

It is totally possible for you to obtain your goal Alex.

Totally awesome!