1) Pulling the trigger on the first deal.

We have a meetup once a month, normally at Dry Dock Brewery and I will post the next one for June on the Events page.

Under the second scenario, is there an interpretation where the IRS could say I have now "earned" 50% of the initial equity basis (thus triggering a big tax bill)?

If I had more confidence that I would be able obtain tenants quickly after purchase I wouldn't be so questionable on pulling the trigger on a vacant property or a multi family that has one of three units occupied.  

We were finishing up DIY remodels of our duplex in LA and fourplex in Pasadena when I couldn't resist and decided to pull the trigger ad make it my personal project thinking I could AirBnB it until it became my luxury apocalypse shelter. 

We were finishing up DIY remodels of our duplex in LA and fourplex in Pasadena when I pulled the trigger.

I'm a classic "analysis paralysis" real estate investor, but am finally in a position to pull the trigger on my first deal.

Restoration company dealt with the mold and my contractor replaced dry walls and changed from carpet to tilesThe property mgmt company asked me to offer 2 weeks rent free which I did.

First deal so its a little scary to pull the trigger. 

A missed payment is pretty cut and dry.