I’ve been working with real estate financials for a while, and I keep seeing one mistake that costs investors thousands: poor bookkeeping leading to missed tax deductions.🚨 Common issues I see:❌ Not properly tracking repairs vs. capital improvements❌ Missing out on cost segregation & depreciation write-offs❌ Scrambling at tax time instead of planning proactivelyI’d love to hear from the group—what’s been your biggest tax headache as an investor?

@Eric Martin I grew up in Montgomery, and still have immediate family there.

Again, I believe this would hold true in most urban type markets.Let me know if that helps answer your question or if you have any follow-up questions to this.

Purchase price: $650,000 Cash invested: $138,000 My business partner and I picked up this 25 lot mobile home park in Owensboro through a wholesaler.

I assumed he would fix it, so I didn't follow up until I received a violation notice from the city for the furnace.

I'd level up with a BRRRR, live-in flip, or house-hack before jumping into a challenging renovation.

So even if you had a buy out agreement negotiated up front and execute that buy out agreement, the bank would still require him to be guarantor unless something drastic changed on your side financially.The best scenario here would be to purchase and rehab the property using a hard money lender or bridge lender.  

Lets say its $270k and you are financing $220k and it takes a year at 12% thats $26k in interest plus other costs etc.

Can she pay you that same amount to cover some of the costs? 

I would strongly consider building equity to make a stronger down payment and further decrease your monthly cost.