I just don't know if OC is too saturated with rentals for the summer and we would not bring in positive cash flow to make money off the rental.

But she wanted to know if she can deduct the principal amount that she paid to the person off of her taxes since she has to report the interest as income. 

I have a Subaru shop over off 38th Ave.

The property is paid off, fully remodeled and has a tenant in place whose rent exceeds the monthly loan amount.

You can spray over cleaner on those, and hose off.

@J Shoe I will start by saying consult with a personal attorney and CPA (and have them work together.)Typically people buy in an LLC just to keep their name off the record and for asset protection and operation agreements.As a sole investor a lot of people will buy in their personal name so they can more easily obtain quality financing, and then move the asset into the LLC.A lot of people of California use trusts (DSTs) to hold the asset, so they are not contributing to the problem of over taxation in CA, as CA has a franchise filing fee of $800 every year for each LLC.Just some things to think about, but find the professionals that can tailor a system for you personally.Cheers

I have had more success in finding off market properties from people who know me than any other method.

I know debt to ratio is a little high, but even when credit cards are paid off we still can't seem to get approved.. 

However, sourcing your deals off-market should also be considered if you intend to flip full-time.Regarding sourcing deals directly from the seller, you can explore SEO, direct mail, cold calling, and anything that gets you in front of motivated property owners.

If you have enough time to do your real estate and your W-2 you’re much better off starting out in my opinion.