I am learning to analyze deals and was curious if anyone would consider the property at 13510 Chimney Sweep Dr.It appears to be in a good area: low crime, good schools, not considered as a flood zone.It is a 2 bed but at 1044 sq ft there could be some potential for an extra room thus increasing rental income?

Hi Greg, Check with your local municipality to determine what is needed permit wise.

Maybe you can pay them a referral fee in return if budget permits.

The loan company's faq says that they don't charge extra for early payoff.

Hopefully, you already asked to see the following items:- lease agreements (look for: special maintenance clauses and what items the tenant is responsible for repairing if any, late fee dues and dates, security and extra deposits, what the owner pays vs what the tenant pays for utilities, landscaping, pest control, etc)- payment ledger- notices given (if any)- copies of annual inspection reports- Estoppel Certificates (show rent, amount of security deposit) if you do not have an agreementYou will need the current property management company to also provide you with current tenant contact information, keys to the unit, and any paperwork listed above.

Did you usually have to change your lifestyle significantly or was trying to live more frugal worth the extra time gained?

Also contacted the township about the cost of permitting new pads, if they even allow it.

You are right, there are new buildings being completed and many units entering the market; however, these are rental units that command a much higher price per sf than my units, and usually charge and extra $150-200/mo for parking, while my places all have dedicated building parking.  

Then any extra money you have save for investing in real estate further.Then for your current property, I would get a loan against it.

If you have high earned income and can funnel some of the extra money into your passive real estate business to make repairs etc that supplements the passive cash flow, can you still write these expense of as business deductions, even though the money came from your earned income?