The quick turnaround required precise coordination and efficient execution, highlighting the importance of strategic planning.

He was asking $40k for both lots with all expenses covered, but we could only do $38k and he agreed.The entire deal took about 3 months to close.

Managing the $15,000 renovation budget required careful oversight to ensure timely completion.

Whether or not it is booked, the expenses continue, and are fully deductible.

Consider budgeting for these expenses.2.

I'm new and understand reserves will be required until it can be rented.  

One bed+bath upstairs, two beds + one bath in a finished basement.Fast forward 5 years (after the long term tenant of 4 years left) and I get a report that the basement has been ruined from water intrusion, requiring the entire basement to be gutted and re-finished.

This is interesting, is there a requirement for how many builds to have in inventory to be considered a developer or is one sufficient for this tax incentive ? 

Add that payment to the mortgage on the new house and it probably won't float.I think you're stretched too thin and should be focused on increasing earnings, reducing expenses, and saving up for your next purchase.

Considering my inexperience in the market driving a lack of capital prepared, I've been looking at the requirements of an FHA loan.