Read your lease.Any filters that need regular maintenance/replacement should be specified in your lease.

If you had to pick the best investments you have ever made that supplies you paper losses (tax shields) through real estate what would they be?  

I myself, don't know many places around that give you those returns in great neighborhoods, and has ample supply of homes for all investors to enjoy.

Does the sale of part of your residence count as regular taxable income, or can it be taxed at a lower rate than my regular income? 

Being from Grapevine, you well know that we are in the midst of a long period of high demand / low supply in my search area, so finding a decent deals can take quite sometime. 

Are you saying that the contractor would get his regular payment for being the GC?

My Cousin's (by marriage) family owns a local supply house.As for the mortgage comment you need that calculation to figure the cap rate don't you...That's why it is there.So far all of my properties are all 13.6% and up cap rate unless you tell me I'm figuring something up above wrong.

I want to thank the BP community for the incredible amount of help/knowledge you have supplied me.

We regularly went into 5 zero territory -  but then we would use certified bank checks.

As real estate investment is something that we don’t do on regular basis, ensure that you are getting the best deal for the money you are investing.