I make sure we have the termination agreement before advertising so they don’t decide later to stay to lease end, wasting my time, and it states liability for damages if they’re not out by new agreement date.

You also benefited from the tax deduction that includes PMI and per your own statement, it's been a great experience until you looked at a recent statement that reminded you of what you once knew but forgot from long ago.Do the math.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $350,000

Cash invested: $1,000

It was a great investment I could have not pass, as my first investment.(Backyard)
2...

It's important to note that only judicial foreclosure sales will eliminate federal judgment liens (other than federal tax liens) in favor of the United States, subject to a right of redemption (1 year).

I'm a rookie investor from NYC who just signed up for Pro membership.I'm looking for someone who can be a study buddy and meet-up info in NYC.A little bit about me:- CPA (not specialized in tax ;p), no professional advice but can help with basic accounting and finance knowledge sharing.- Have been listening to Real Estate Rookie (almost a year) podcast and On the Market (a couple of weeks).- Finished reading "Real Estate Rookie" book by Ashley.- Looking for out-of-state investments, currently looking into Philly.If anything clicks you, feel free to contact me.Thank you!

Do I have to add those $45000 to my income and then I pay taxes and my ordinary tax bracket wiil be the $45000 plus my work income, do I get taxed twice?

Hi everyone,There are couple of ways to value the price of land in depreciation, such as the 80/20 (20% to land) and Using Property Tax assessor's values, or getting an assessment of recently sold lots in the area.I was discussing this with one of the CPAs, and he shared that if the cost of building the house is more than the purchase price, then the land is essentially of no value. 

If you have decent terms on the land with low property taxes, add some insurance and you should still be able to cash flow easily.

I would mention to them that you are looking to build a portfolio- a constant source of deals normally entices small banks.I would think is the safer route, rather than holding the property under your name where you have liability from a number of different angles.Likewise, if you are having trouble securing bank financing, you may want to look into a bridge loan, prove out the income for a year, and then circle back with a bank.

I would base my decision to buy more on my investing goals, am I buying for cash flow, appreciation, or tax savings.