Can I calm/deduct start-up cost for this property if i add it to an exciting LLC which already holds my first rental or what that expense be considered "operational cost".

Since the loan is at a low interest rate we do not want to refinance into our names and her parents are okay not refinancing as well.Thanks,Zack

@Alex Ng I think Birmingham is a great place to invest because of the cheaper prices and low taxes.

Some details on the deal below:Mortgage rate on the property: 3%Monthly mortgage payment: $1200Amount owed on mortgage: $230KCurrent property value: $370KEquity: $140KDue to the low mortgage payment and high rent potential in this neighborhood I would like to assume this loan and rent this property out as a long term rental. 

@Terri-Leigh H.can you breakdown what your costs are to furnish each bed and additional furniture, furnishings cost are for a 5 bed property. 35k seems high compared to what we have encountered.

During that time they supposedly found a leak which was beyond the scope of the maintenance  and i had to pay a plumber to come in saturday morning while the guests were there. thats on top of the "deep clean" which cost $300 and was somehow done in a couple of hours. 

The obvious play would be for the low purchase price/cash flow. 

Build mobile home on the vacant lot I understand the cost involved for rehab the existing house.  

I can understand the desire for new but isn't there a large land cost relative to the value of the overall home?

The juice may not be worth the squeeze to save money.A good agent will be worth the cost you might spend, but you can also work with a good wholesaler as well.I would recommend that if you work with a real estate agent, treat him/her as a teammate and not a tool in a toolbox or someone disposable.