Wish I had BP at my fingertips when I was starting out - let me know if you're coming up this way (Plymouth....) and we can compare notes......

Good stuff up there.With me, especially because I've only accrued about 12 months experience in Chicago where we are buying right now, anytime I cannot identify true, apple-to-apples comparables, I might just pass on the deal altogether.Especially in Chicago where you have several types of homes (bungalows, ranches, cape cods, georgians, etc.), you really cannot comp one with the other unless it's the same style.Here are some general tips when comping homes:Never cross any major highways, and try not to cross any major streets if you can.

@Mark H.You are correct that for purposes of the 5500-EZ, the IRS is looking for the tax ID of the Plan Sponsor (your S-Corp).When the plan itself is transacting, such as selling a property, the plan EIN should be used.

involved that we would owe our realtor compared to a normal real estate transaction?

involved that we would owe our realtor compared to a normal real estate transaction?

I know the area must be the primary place of business and exclusively for business purposes but will I run into issues come tax time?

Residentshall be responsible, at Resident’s expense, for hauling to the dump those items too large to fit in the trash containers.Resident shall not dispose of any flammable liquids, rags or other items soaked with flammable liquids or any otherhazardous material in trash containers or bins;(b) to properly use and operate all electrical, gas and plumbing fixtures and keep them as clean and sanitary as theircondition permits;(c) to keep the premises and furniture, furnishings and appliances, and fixtures, which are rented for Resident’s exclusiveuse, in good order and condition; that all rooms on the premises and all appliances and fixtures on the premises must beable to be used for their intended purpose(s);(d) not to willfully or wantonly destroy, deface, damage, impair or remove any part of the structure or dwelling unit or thefacilities, equipment, or appurtenances thereto or to permit any person on the premises, to do any such thing;(e) to occupy the premises as a residence, utilizing portions thereof for living, sleeping, cooking or dining purposes only whichwere respectively designed or intended to be used for such purposes.

Thus we are now suggesting to owner that he sell to an investor and contractor that could purchase "as is" and complete the project for the comparable $50,000 market value in the area, the owner has refused to sale and is holding us to our lease.

Hey guys,Im a brand new investor, (big surprise right, Not really). I had a question in regards to finding what a unit will rent for. I moved across country to Indianapolis and am looking to purchase a home to live in...

What follows is not intended as legal advice but is for informational purposes only.