You have to have a long term view, as these cycles take a decade or so, and longtime observer can see how it's taken areas up past the tipping point, or not.

That is my biggest fear.She replaced the carpet and painted the walls, replaced all appliances to stainless steel, and has very nice furniture.

How to Be a Landlord: 10 Tips for Success2.)

Hoping to meet some of you and continue to share our knowledge with each other.Also, thanks for the tips on tax basis and setting keyword notifications!

I have no intentions on doing anything, I'm only asking to learn and know for the future.A fully fresh rehabbed property just came up on the MLS, new stainless energy efficient appliances, carpet, paint, floors, heating system, ect..Now, my questions are as followed.1) Seeming how all the work is pretty much done, is their any leverage in brining the price down or is it even worth to look at it in order to FLIP it?

Like I said the property is ready to move into and it just needs sweat equity and some updating.Here's an example.The property I bought for $30,000 needed some updating like new painting on the side of the house, light fixtures, landscaping and a few other minor problems.

I hired several persons/contractors to do the painting, landscaping, cleaning and maintainance, but I don't have their SSN or TIN, so I did not send them form 1099MISC, do I still can deduct all those costs from the rental incomes on my tax return this year?

I figured 5k a unit for updating to very basic finishes, painting ect.

I haven't talked to a mortgage broker yet, but was hoping to get tips or advice on whether this is a good idea before I do.

Maybe if they're just painting.