It's crucial to understand the financials and market trends to gauge the potential value of a property accurately.One key aspect is the cap rate, which is a big player in determining a property's value based on its income compared to its price tag.

They are qualified based on the properties income vs the payment.

So, unfortunately, you're likely to pay close to 20-25% on the $400,000 (based on my loose math here -- please check this with an accountant who is familiar with Idaho).

I’ve seen a bunch of posts here over the past six month on BP where people seem to be betting big money (some call it investing) based purely on someone’s charm and word.

Buy 4 more properties - one approximately every 3 months, based on the following logic = always fill existing property with a tenant prior to moving on (I'm new, and this is my way of managing risk); build resources to purchase next property (I have pretty decent purchasing power right now through conventional lending with my current job, and I also have a private lender ready to loan on my next property, and I also get a quarterly commission check that provides a nice financial bump every 3 months); finding a property takes time, but it is worth it to find the right property in the neighborhoods I want to invest in, at the right price.

What web-based solutions are you guys using to keep track of your portfolio?

What web-based solutions are you guys using to keep track of your portfolio?

To have your activity qualify as material participation, you must meet one of the following tests:-Work more than 500 hours in the activity (a married couple can count the involvement of both spouses to meet this test)-Do substantially all the work in the activity-Work more than 100 hours in the activity, and no one else worked more than the taxpayer (including non-owners or employees)-The activity is a significant participation activity and your total time in all significant participation activities exceeds 500 hours-You materially participated in the activity in any five of the prior ten years-You materially participated in a personal service activity for any three prior years-Based on all facts and circumstances, you participate for more than 100 hours in the activity on a regular, continuous or substantial basis during the yearPractically speaking, this means you’re doing the work on your rental properties rather than hiring a property manager.

While the other friends/tenants have agreed to share responsibility, I'm concerned that once they're actually accountable, they may opt to drop the lease and, ideally, move out.

Based on comps and speaking with realtors we figure I can sell my home and after paying off my mortgage and selling expenses I could net approx 750-900k, depending upon the sale price of course.