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).

As your transition into bigger and better properties, including multi-family and commercial, you will likely find that any worthwhile opportunity will become easy to match up with your existing buyer client base.

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.