My question is do I still need to file the schedule E as part of my tax return and show this property as a rental with no income no loss or should I not mention it at all until it is in market for rent?

The wole time I was watching that farce, all I could think was that I would like to burn that house to the ground, commit a hate crime against the project manager, and send A&E an invoice for my lost time.That show should be on between Jerry Springer and Maury Povich so the lowest common denominator of society can enjoy it.

Hey Kenneth E. - thanks for the excellent tip.

Typically investors buy new and suck out the cash flow for years to show great schedule E tax returns.

Erin E., even though I am in NY but the property we are discussing is in oil country which has been one of the hottest markets in the country right now.

With all that said if your only goals are to 1.) generate $1,000 monthly cash flow 2.) by using less than $80k and 3.) find a r/e focus that you like and can continue investing with I can tell you I am helping folks in southern Ca do this right now.The real question is will you LIKE this "niche" of investing even if you make your $1000/mo cf.

- E

E's (and ongoing monitoring), is time consuming and costly.

E)Use wholesalers, since, unlike realtors, their reputations and livelyhoods depend on maximizing cash investor profits.

Kenneth E. - ThanksDerrick Moore - Thanks.