I don't know about this first-hand, but here is a website that might help you sift through the details and processes:http://www.doleta.gov/business/incentives/opptax/

It needs some upgrades and minor turnover details and a finishing of the basement. part 2.The otherside (address) has just been vacated.

Personally, I'd rather re-finance it and get the cash tax free (see a CPA for exact details).

See the details at the website.

Your 2% rule, 50% rule, $100 minimum per unit per month, etc makes real estate investing so easy.I know these are just guidelines and a detailed due diligence is necessary, but I think these rules save a lot of time.

There are so many details to take care of and it amazes me how often title companies screw up.

(I assume a 2nd, separate apartment is what your are suggesting when you use the term MIL suite)Can you provide a more detailed breakdown of the monthly expenses you are using to calculate for your $635?

So I found a listing for a home that is in "Pre-market" and when I go to the property details page is says it was foreclosed in 3/2012.

Have your attorney draft a promissory note and deed of trust spelling out the terms, the rate, and all associated details.

Yes, in Trust, that's more like it, agreed.LOL, no income, slight detail, yes, it's going to be tough to refi, with experience you'll get 75% counted from gross rents plus depreciation back in that, so if your payment can qualify at that you may have a chance.