While technically you are supposed to send a 1099 to someone you paid more than $600 a year on a rental property, or you will owe up to $100 per missing 1099 document penalty.

2% rule is hard to find even in Dallas TX which is suppose to be one of the best cities to invest.

I suppose the lesson learned here is either coordinate with the seller for post-contract vacancies or avoid this situation altogether where possible.

That is supposed to only be in effect for primary residences but people sometimes (let's assume accidentally) forget to withdraw the exemption status after moving out of the property.  

His book was supposed to be based on research of how successful investors "bought it right".

Wilson North Carolina is the area but property values are very very low and the spot where the property is I looked up the crimes that have taken place since January and its pretty high. even for recently sold comparable in the area they are not even close to what this house supposedly appraised for.

Good way to network with others in the local REI world.I'm not sure if I'm supposed to post the link here, so just send me a PM

I believe in California it's supposed to be 5 feet?  

I'm sort of assuming I'll be busting that with a Builder's Risk policy.I suppose the best way to find out is to call up the lender...

My agent builds a calendar for the deals we do and keeps me on track, making sure I'm doing what I'm supposed to be doing and that all the third parties are doing what they are supposed to be doing.