@Carrie GiordanoThe most important thing is to make sure your consistent in how you apply different expenses to different properties.

Case study  this one I sold in 2013.780 acres  bought in 1999  for 1.7 million... 500 acres in various age class's from 25 year old to 50 year old.. all very well maintained and replanted in the 70's. fully fenced and 7 miles of rock road that would carry log trucks.. great owner to buy from...

Remember, 0 down carry  can be great but don't let that cloud your vision for what you are buying .

For example, true story one tenants dog bites another, complex is owned by one of my LLCs with big mortgage, she files suite on my LLC, finds out in deposition only about 50k in equity and my insurance doesn't cover dog bites and I don't carry liability insurance and they drop the case.  

I would use credit card checks for down payments on seller-carry's.  

I was surprised they were carrying that!

My brothers responsibility for the home besides carrying the loan would be maintenance ( he is very handy) and paying the property tax, Insurance and mortgage insurance.

The PM is then supposed to carry out the terms of the lease.  

Fantastic place to learn and carry your RE career as far as you want to go.

+ depreciation you took over the years = amount you need to reinvest in order to avoid all taxes.2) Current mortgage of 1.4M = amount of mortgage to carry forward.So the amount from 1) might be 2.2M and the amount from 2) says that the 2.2M must include 1.4M of mortgage.Anything less than that is considered boot and is taxable.