I have a certain expectation on the quality of materials that will be used to ensure that the improvement fits within the existing quality of the unit and the materials included in the quote are near borderline to that expectation being a cheaper shower valve, a 4 piece shower kit over the existing 1 piece unit and a low cost shower door.I am not a fan of the multi piece shower installation kits thinking they look cheap.

We're going to have our contractor put those in for us, before the wood floor goes down, to attach to joists and ensure ultimate sturdiness.

A revocable living trust is the most common form of Trust as this provides control of your assets, while ensuring assets will avoid probate when you die, and as such, streamlining the process of your assets passing to your heirs.

Hi friend,  To ensure you get proper adhesion and a professional finish I encourage you to deglaze the tile.

The parents are there to ensure that the rent, utilities, and other expenses get paid in full, and on time.

You will likely want to work with your accountant and attorney in setting up and managing the checkbook IRA, to ensure it is set up properly and to avoid prohibited transactions.

@Thomas Rutkowski– Tom raised the bar in ensuring I had all questions answered when it came to leveraging permanent insurance as a wealth accumulation vehicle@Ian Ippolito – for the great resource on passive investing that is his website@Steve Babiak – As a fellow local Philly investor, the knowledge and experience he has shared through his many, many posts are nuggets I’ve always appreciated.

That led me down the path of researching the ingredients that make up an affordable, safe, and EXPLOSIVE rental market.Picking the right market will:-Ensure that you get positive cashflow on your deals-Have a high likelihood of great appreciation over the long run-Protect your investments during a downturn due to less recession in the immediate area-Give you a thriving community to plug into to help you learn the ropes and meet the right people-And much moreDon't be blinded by a house that's only 20K but it's in a small, rural town.Price isn't everything.That house will be hard to renovate, keep rented, and manage in a town like that.

For the building, you'd just want to make the basis broken between building and land and ensure the depreciation deduction matches the tax.

Buy at a decent price, in a decent area that could still support good paying tenants during an economic downturn, ensure your property will cashflow, and ride out any "crashes" until it makes sense to sell.