That is only $65k equity and even if you add the extra $90k back at close you are left with $155k, not $245k.

If I could bypass the buyers agent and speak directly with the listing agent I could possible put a few extra dollars to the bottom line with the correct negotiation skills.

In certain states that enacted one –action statues or rules such as California, a lender must commerce a foreclosure action (judicial or, if permitted, nonjudical) contemporaneously with or before any action for monetary judgment against a borrower.

So now I have extra motivation to do my treadmill, so that I am fit and ready to do my beach walks when I get there.Make a deal with yourself and buy yourself a treat if you live up to the bargain.It can be simple, like you treat yourself to lunch everytime you go.

If my schedule permits I'm going to attend this meeting and I'll definitely be fully dressed, thanks for clarifying, LOL.

That way if I ever get sued at one property they can't clear me out with all my other holdings.If you are going to treat this is a business and do it right don't worry about the taxes and "extra work".

Check for slow drains, too, and run hot water down the kitchen drain for ten minutes to help clear any grease buildup.Also, check the number of toothbrushes to see if extra people are living there; check smoke detector operation (has TENANT removed batteries?)

Don't start your investing career with such a property.If it is properly zoned, check with the building department to see if its actually permitted as a duplex.If its not both zoned and permitted as a duplex, plan to make it back into a single family.

I'm not worried about the extra fees.The title company doing the closing on behalf of the bank does not do double closings so rather than rock any boats, shall I just tell them that I'd like the package sent over to say ABC title and allow ABC to do the double closing?

If you depreciate that over 5 years you get an extra $2K/year in write offs, if you're in a 25% marginal bracket you would save $500/year in taxes.I only ever did it on new carpet and HVAC systems, because I'm a big believer in "keep it simple, stupid", and extra depreciation schedules complicate your life, and I was always more interested in increasing my revenues than cutting my taxes.My former CPA was pretty conservative, but still I often expensed small dollar items instead of capitalizing and depreciating them.