@Theresa Harris: unfortunately I signed them as a group.

Hope you are all safe and sound within your homes with your families during this crazy time, but while i got you looking on BP Forums i was hoping to get some feedback from buyers in the DFW metroplex specifically on certain criteria that you look for when investing in homes, i was planning on networking with some fellow investors at our next REI gathering but unfortunately given the circumstance i figured it'd be a while before i could do that soooo i jumped on the next best thing.. 

Hi all,Hope everyone is doing well under the circumstances.

@James Morrissey unfortunately we don't have enough info here to know if this deal is any good.

It's the unfortunate part of selling a house.

@Scott Jensen unfortunately I learned this year that I can no longer contribute to my ROTH due to the fact that since I quit my teaching job and went full time into real estate, I have no earned income.

Your understanding is not correct - all business expenses related to rental income are deductible, including what you listed above (subject to facts and circumstances, such as travel, home office, and meals, which require a discussion with your CPA to understand how these are deductible).You also cannot just flip flop between Schedules E and C.

There are a lot of considerations being given to the current circumstances, which may help you in the long run.

Unfortunately, the area I desire to find a multi-family property in has both a low/nonexistent supply or everything is way more expensive than I currently qualify.

At the beginning of escrow when purchasing this unit, I asked for the proper documents to be sent to me so I know what I can and cant do within my flip, but unfortunately the proper documents weren't sent to me which led me to assume I could move forward with my project.