a local deal popped up in my hometown for an 8 unit apartment. works out to a 15.6% cap rate. has 4 2br/1 and 41br/1 and rents are 400/300. 3 empty atm but he says he has calls all the time and stays full most of the time. he is selling do to a critically ill grandchild he wants to spend more time with. no way i can come up with the 20% down on this, and i would love to get my mom into this deal. she is super hard headed about securing her future and im trying to get her into some real estate for when she is ready to walk away from her job. i almost have her sold on it and her main concern i cant get her to move past is the tax implications. she is a managing partner in a sonic drive in. she makes 20% providing she makes a certain profit %, plus a small salary, plus they let her buy in 25%. she is afraid of this putting her into another tax bracket. i told her to talk it over with her cpa, and i just wanted to run by the community here to see what answer you guys had as well. she is a money hoarder and im trying to get her into this for when she walks away she will have something. they will buy her out at 75k when dhe leaves and she thinks thats gonna be good enough. she does no 401k or ira or anything so i am trying to talk her into this for some passive income when she retires. help me sell her on the taxes please!!

i have just started out and im scared but ill make it . any one have any help for me?

I about to purchase my 3rd turnkey and I have not hit a year on any of them yet but I am tracking all of it so when I hit that mark, ill be sure to give you an update at least on my personal experiences.  

-Md.3.78-1.0484Chicago-Naperville-Elgin, Ill.

good information thank you...in my case im not working with an agent as of yet, im only pre approved, and working with a lender. ive made some calls today and reached out to agents to get the ball rolling. i do need to take more time to study and understand the closing process because it is a confusing one and i will not go into it with my eyes closed.i do know that my rate would be a bit higher if i chose to not escrow but maybe ill just pay a point, @James Mc Reeseeing as how im not yet in contract with any property or even talking to a seller, i would like to have the seller pay what i can get them to pay. i want to keep as much in my pocket for reserves and repairs and vacancies if i can

I 'll just transfer the line of credit into my checking account and let it season for a few months. 

If you need any help, feel free to reach out to me and ill give you any advice i can.

Peter Mckernan Thank you for that sir, more likely ill get the license to get a better understanding and knowledge of real estate investing and etc.

Ill try back in the morning.

ILL POST a video of how We found it.