I noticed the seller provided documentation that none of the units put down a security deposit so that raised some red flags.

There will be ups and downs (like the AirBnB property in Costa Rica where that woman was murdered and they arrested the security guard) but by and large I think it is here to stay.

Rental income is shown on sch.E which is not subject to social security taxes (like FICA) but all the other taxes.When you're renting property vs owning, you can't depreciate it but your rent payments are totally tax deductible (vs only interest on mortgage is).Insurance: you'll have to get Tenant or renter insurance which protects the property and your liability if someone slips and falls, set building on fire etc. this is not your professional insurance - just regular insurance you have for your home.I don't see how kind of entity will affect the taxes: if it's just you the owner, LLC will be disregarded entity and shown on your own taxes, only on different schedules.

Hi everyone,I have read several books, listened to many podcast, and educated myself anyway I could and one question that seems the most difficult for me to answer is "do I get an offer accepted before I secure financing?"

Purchase price: $2,000,000 Cash invested: $1 76 unit value add apartment complexCurrently cash flowing at a 9 cap rate with 17 emptiesThe plan is to invest 20,000 in renovations into the empty units and have it performing at a 14.5 cap rate.Property was purchased with the seller carrying 10% and the other 10% was secured through equity in other properties.

If it doesn't meet their minimum then you can sometimes package more than one on the same note

Sellers were motivated to move quickly and we were able to secure a price way below market for an easy assignment to a rehabber.

Chris...I believe this is in the circumstance of loans made to individuals where the loan is securing a primary residence, correct?

My guess is that it is vacant ask if you have his permission to enter as long as you leave it secure when you are done. 

In Massachusetts - We purchased a 4 family house and one of the tenants did not have a security deposit.