My thoughts are if she is doing this she might be lowering her initial out of pocket expenses however she is also lowering her potential profits if she is using hard money because her loan, payments and points fees would be higher.

I was typing the other post from my phone.If your adjusted gross income is below 100K you can deduct up to a 25k(special allowance) in expenses exceeding your income.If your adjusted gross income is above 100k (unless an exception applies).

Initially, just like Wayne Brooks mentioned.Once you've had a loan for some period of time, the MI can be taken off by getting a new appraisal showing loan balance to value below some percentage (that should show up in the loan docs - my guess would be 0.78 or a loan balance that is 78% of appraised value).

These costs include agents' commissions, closing costs, sellers' concessions, and if you do not list below comps, then maybe a price reduction.

Yeah, that tax does sound very high for NYC, though it would be low for here!

My understanding is basis is supposed to be the LESSER of one of the below items, minus value of land:* actual costs* fair market valueOr am I wrong on this?

The more deals that you do and the more risks that you take, and the more you are open to market fluctuations, the more likely that sometime you might have a loss.If it were me I'd get the tenant pre-approved and get on the path to the tenant buying the property, next year the interest rates could be higher or the value could be lower.

I was the high bid on a property at $125,000 about 20% below market that I knew was occupied, and was given title through a quitclaim deed with no title insurance.

Below the signature there is usually a name and title.

What does this below statement mean?