It is very helpful and I have to strategize on my approach with my tenant.

I've been doing research for several months now and have formulated a plan that I am anxious to take action on, and thought I'd get some feedback.

My first stop for any advice or question about real estate is always BiggerPockets.Read books about real estate, finance, and business (here are some of my favorites):The Ultimate Beginner's Guide to Real Estate Investing by Josh Dorkin & Brandon Turner (just what it says it is and it's free)The ABCs of Real Estate Investing by Ken McElroy (good for learning about analysis and multi-family properties)Trump Strategies for Real Estate Investing by George Ross (negotiating and strategic relationship building)What Every Real Estate Investor Needs to Know about Cash Flow by Frank Gallinelli (great for analysis)Cashflow Quadrant by Robert Kiyosaki (investor mindset)A more interactive step, after starting your research of course, is to drive or walk in the area you want to invest in (your niche, which the Ultimate Beginner's Guide can help you define).  

When it shows up, I pounce and attempt to create long term value through strategic renovations, repositioning or savvy management.

Most are pretty motivated.The main problem with a lot of these vacants is people bought during the bubble and are underwater or were of some fantasy that they didn't need PM so the props are either financially or physically a disaster---or both.It is not necessary to pay big bucks to buy a system that you can formulate with a bit of elbow grease and a VA.

We expressed these concerns numerous times throughout the program, looking to re-strategize the territories we were marketing to, but were instructed time and time again to stay with the course.When we reached 3 months, half-way through the program, we had zero real leads and major communication issues(comically poor responses from the team) to the point my business partner completely opted-out and I took over.

Pick whatever structure you wish for your business, and in January of 2017 you can file your taxes, yielding the necessary 2 tax year average.Really you should be looking for a local lender that is forward thinking and strategic enough to realize that if they help you structure your documented income in the most advantageous way, there's business in it for them in 2017.

If you have any questions or just want to chat and strategize feel free to reach out.

When you have other sources of income, particularly over $150,000, that is when you need to strategize.

Im a big fan of Roberts youtube videos on assets versus liabilities, he really simplifies wealth building in a straight forward and strategic way which i like.