Such expenses can include travel to and from a property, out of pocket costs to make a property to look presentable and any cost to a broker to maintain a license.Since she is considered self-employed - she may be eligible to put a large portion of her earnings towards a retirement account.Since you plan to acquire more properties - you should make sure the depreciation is calculated correctly.

@Thomas Castelli,That is correct. 

I may not be estimating the AFV correctly.

pm me def interested to bid it out 

Priceton,You are correct, good catch. 

Priceton,You are correct. 

If your estimate of $60,000 is correct then you need your limit to be at least $48,000 to avoid a penalty. 

If you purchased the property correctly, the tenant's rent payment will cover the mortgage.

You have to pay about 4% on top of the bid amount.

It sure sounds like you can 1031 exchange in to property in one of these zones and if you hold it for 10 years all your capital gains with become tax free. 1) is that a correct representation of what it is?