That's a very important subject, because if the rentals are "merely an investment activity" and "not a trade or business", then the Pass-Thru Deduction does not apply to them.For those of you who are not familiar with this deduction – you really should be.

My investor wants me to manage his projects but so far we haven't found a flip because the market is so hot. 

Sounds like this would be a perfect candidate for purchasing the property subject-to his mortgage.

I am from Montreal.Beautiful city and like Linda mentionned, the jobs are growing.Its a hot market right into the city and it will come a little bit hotter in the month's coming.I would suggest to have a look in a micro market out of montreal like North or South.In north have a look for St-Sauveur, Mont Tremblant, Charlevoix( near Quebec city).More south east have a look for  St-Jean sur le richelieu, St-Hyacinthe, Bromont, Granby, Magog and Sherbrooke.Those place are all beautiful with a very good potentiel for airbnb.Good luck!

The instructor will be talking about seller financing and subject-to purchases.

I'd much rather that large hot with 3 creams from McDonalds.My bet (and I reserve the right to be wrong) is that the most important ingredient in a gourmet shop is marketing. 

I encourage input and direct but constructive criticism of the deals I've been purchasing in this hot, maybe top or near-top of the market-cycle. 

@Keli Landowski Congrats on selecting the KCMO area, it’s definitely a hot market and things that do make it to the MLS don’t last.

The thought hit me that maybe abq isn't super hot for single family right now, but to buy rehab and refi a sfr or two would give me a significantly larger starting cash pile and a much stronger buying position to jump into mfr.

The next issue the seller chose to ignore was that the hot water heater has been leaking for quite some time.