Also, like many of you, my goal is to generate solid passive income via a strong portfolio of cash flowing properties.Primarily, my aim is to invest in deals generating over 20% cash on cash returns with cap rates above 10% and to build teams that can help accomplish this while everyone wins and has fun!

It's just simply not realistic and I can get them some more off the asking price but not ridiculous numbers especially if it's fully performing for a long time.Since you are an investor is there a local real estate investor association you can go to??

They can simply get a bigger fee from true cash buyers as they dont eat up their margins with the extra costs.

It's win/win.

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The best way to find out what she meant is to simply ask her.

You went from winning one way (45k taxable profit) to winning 3 ways (45k nontaxable profit now, immediate cash flow, and 35k equity with a chance to ride the appreciation roller coaster).

Mostly, though, since I've often made the mistake of relying too much on books and too little on wise individuals, I've been focusing on simply asking questions of people who've been successful in RE in my area.

I have a CPA do all my tax work but I have been reading to try and understand a bit more so I can follow what he is doing.My question is about how I calculate depreciation as simply as possible.Property Value 100,000Basis 80,000 Land 20,000 - I divide the basis by 27.5 each year and that should give me (80,000\27.5) 2,909 that I can deduct off my pre-tax cash flow from the property.Just using an example, after all expenses and debt payments the property was to produce a pre-tax cash flow of 2000.

Simply location is a huge factor.