We have used work bonus payments, tax returns, and inheritances to get down-payments.

I plan on requesting the following quarter report if I offer.Average Monthly Expenses per triplex (maintenance/insurance/repairs/utilities/property taxes/vacancy):$730.50Estimated mortgage: $1,132I plan of offering $200,000 - $205,000 due to two of the rooms not being renovated, roof needing work, and after being posted for going on 3+ months.

She knows about tax lien stuff.

@Yasmin Sharbaf if it’s not new construction, your agent would usually have shown you current tax records including what they list as square footage, especially if that was a known concern of yours.

If I continue to pay the mortgage in the the seller's name (with out refinancing) would they claim the mortgage interest tax deduction or do I get to claim that since I am paying the mortgage and hold the deed to the property. 

If I pulled to put on a rental property for around 200k then after property tax, property management, mortgage, insurance I’d probably be cash flowing much less than my 5.5% at the moment. 

Do they leverage the purchase for taxes and depreciation?

I recommend CA residents look at Reno, Nevada because of the proximity, landlord friendly, low property taxes, and influx of high wage jobs and strong appreciation. 

Hi All,As I look at my options to finance my first RE deal, I was researching the early withdrawal penalty from TSP (Federal equivalent to 401K) and just learned that I can take out a TSP loan with no penalty, no tax impact and just have to pay it off with interest (seems to be 4-5% range right now) within 60 months. 

Given the flexibility of our jobs, which offers nationwide opportunities, we have the privilege of choosing our permanent address anywhere in the country while remaining compliant with IRS regulations regarding tax homes.Initially, our aim was to purchase property in the Portsmouth, Durham, or Salem areas of New Hampshire.