From what I've seen it looks about 40k in Portland. 10-15k in rural Washington county, but Im not sure I found all the fees and I haven't found info for rural Multnomah county or any other city yet. rural means no city water or sewer so well and septic and if you don't have those U can spend at least 10 to 15k on a well and water system and septic 15k to 50k.. depending on soil.plus your 5 to 10 k in building permits.. then your ready for vertical.. so city fee's are usually cheaper.now place like Yamhill or Carlton you can find little funky infill and fee's there will be less than 20k.. maybe Banks Gaston etc.its tough for land here. 

CPAs and/or CPA software default to putting 365 in there no matter the reality, so you have to micromanage this.We spend a lot of time internally going over income calculations, and we do this for a living, so a full and complete answer is beyond the scope of one post.

This is counter to wanting to spend more time with family.

I want to approach him with 2-3 different offers so he sees I am trying to work with him. 7 Unit Building 2 Bed Room (owners unit) worth $4,000.00 a month2 Bed Room ($3,950.00 current rent) worth $4,200.00 a monthStudio ($1,850.00 current rent) worth $2,400 a monthStudio ($2,000.00 current rent) worth $2,300 a monthStudio($1,600.00 current rent) worth $1,800 a month 1 Bed Room ($3,000 current rent) worth $3,300 a month1 Bed Penthouse ($4,300 current rent) worth $4,700 a monthPotential for garage rental, Storage, and Laundry as wellCurrent Income $16,700    Potential Income $22,700  I know that the gentlemen likes to spend the weekends in his apartment and I want to give him an option for him to stay for a few years to make the deal interesting. 

My stepmother has done commercial real estate for at least 40 years, and not a day goes by I don't regret learning everything I could from her about real estate starting as a teenager, but the less time I spend regretting the "woulda-coulda-shoulda" , then the more time I have to find, facilitate, and proceed with projects.I currently work in IT for so I am grateful to work from home in a position where I can research, learn, and scout out potential projects while working my 9-5. 

Of course, I'd rather not spend that kind of money.  

There is an hours requirement but also it states that you MUST spend more time on REI than any other activities(s) A read a tax case not too long ago where a surgeon tried to qualify because he self managed his whole portfolio, yadda yadda...Ultimately the IRS said you're in the Operating room for 10 hours a day 6 days a week.

The wedding isn't paying itself. haha)Investing goalsMy first goal is to buy a duplex/3plex/4plex once I get married and house hack it.Eventually, I want to own a few multi-homes and create passive income to live on.I'll probably focus on Illinois and Indiana since I spend most of my time in these areas then branch out.Nice meeting everyone. 

You can spend a lot of time reading, but like you said getting out there and getting a deal is definitely the way to go...do your numbers and research and dig in, start building your network, and find good people to work with...it's a lot of fun!

Option 1:  Spend $50,000 on a conversion from a huge basement garage to a mother-in-law unit that would increase your rent by $500 per month on an existing rental.Option 2:  Spend $50,000 on a down payment on your next deal that should cashflow $200 per month after expenses, in addition to the loan paydown, appreciation, and tax benefits.