Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $125,000

Cash invested: $25,000

Six unit apartment building consisting of (3) two-bedroom and (3) one-bedroom...

Hi allI would love to purchase my first apartment complex greater than 10 units.

Time spent reading biggerpockets, browsing the MLS, crunching numbers on potential properties, watching RE videos on YouTube...those are not rental real estate trade or business hours.Hours spent bookkeeping for the rental, interfacing with your PM, interfacing with contractors, interfacing with tenants, etc are generally ordinary and necessary rental real estate trade or business functions.Income tax law is complex. 

For residential history; if it is an apartment complex I will look up the # and call the office.

I could envision using them to build a two story complex for under $25k a unit new vs what an existing complex runs.

If I am able to get the mobile home I know this will be a sweet deal.

Worse thing you can do here is try to oversimplify a complex situation and get it wrong.

If he opts to buy the property, rent paid during the lease period is applied toward the purchase price.Because owner financing can be complex, we recommend working with a licensed attorney who will consider your best interests when drafting the necessary documents.All the best!

They Tend to stay on forever.The lease was sweet.

After holding back for short term cap gains, my profit was a sweet $20K.