THere is a 9% builder fee added to the invoice total, and I am to have the money to them in 5 days.

In other words, my income on my pay stub is not a whole lot, but the total value of the room and board (I pay for nothing else out of pocket - gas for my car, utilities, internet, groceries, and so on) is valued at much more.

I’m totally open to questions.

hello everyone currently looking at a 3 family each 2 bedroom 1 bath question is what type vof financing options are out their i don't want to live in the unit currently all units are rented out with total gross of 2950 i know wha requires you live in one unit for 1 year

I was shown a few places, compared them to the neighborhood and saw I was getting good cash flow, but there was no equity build up I was actually paying more then it was worth and would maybe sell in the future.I decided to flip it back and just learn the basics by practacing the BRRRR in my home state instead, here I can still find 25-35k houses with new kitchen/bathroom cosmetic work for 15-20k, total price in 50-55 that would rent for 695/750.

Total origination fees were under $300 per loan.

The savings can be used to buy another investment property that will give you at least neutral cash flow and you can still totally deduct the mortgage interest and state taxes on your investment properties instead of having those deductions limited in your single family home.

For example, he borrowed $25K, paid me $3K in "interest", now I foreclose, have my purchase basis as $22K now, and am adding the costs of rehab and the foreclosure itself as part of the depreciable basis on top of that $22K, then will have my total basis here soon right before I put the house in service.

Two of the safe harbors that can help you deduct improvements are below:1) 2500 de minimis safe harbor.the safe harbor applies to amounts paid during the tax year to acquire or produce what the regs call a “unit of property” (UOP), you must meet these requirements: (1)you need to have written accounting procedures treating as an expense for non-tax purposes amounts paid for property costing less than a specified dollar amount (which will be 2500 for you), or with an economic useful life of 12 months or less;.(2) the taxpayer treats the amount paid for the property as an expense on its books and records in accordance with its accounting procedures. ( do this on your bookkeeping software or whatever you utilize)(3) the amount paid for the UOP doesn't exceed $2,500. as substantiated by the invoiceNote: The cost for the Unit of Property includes l additional costs (for example, delivery fees, installation services, or similar costs) if these additional costs are included on the same invoice with the property.2) Small taxpayer safe harbor: To be eligible for the safe harbor, the total amount of improvements for the property for the tax year may not exceed the lesser of $10,000 or2% of the property's unadjusted basis.If the total amount paid exceeds the safe harbor threshold, the safe harbor does not apply to any amounts spent during the tax year.

How much did you end up paying in total closing costs and did you use a 3rd party loan service?