@Account ClosedIf you receive a gift from a foreign person of USD100k or more, you would need to file Form 3520 to disclose it but a receipt of a gift is not subject to income tax.

The franchisor is incentive is too place as many locations as possible in an area to maximize royalty income and franchise fee income, up to the point that the franchisees are no longer profitable,  The franchisee on the other hand wants as few other franchisees in his area as possible since he has almost no concern about the franchisor maximizing their income, he wants to maximize HIS OWN net income and franchise value.   

Maxing out retirement accounts, ira, adding to taxable accounts (index funds) for pre-age 59.5 access.

Let’s say we pay X amount in mortgage.My question is : how do I calculate mortgage/interest/property tax for other house which we have rented so that I can deduct that from rental income?

Thanks  Rent to Retirement is a facilitator of off market deals.

Investing in individual homes feels more like an arbitrage play where you need net income to exceed lot rent to earn a cash flow.

If you have 2 years of landlord tax returns you should be able to count 70% plus of that income.

You’re trying to lose more income than a PM costs, while doing all the work yourself.

@Tyler Kowalczik- thanks for the post ....1) get pre approved for a nypotehtical  scenario  so that  you  can make sure you can get  financing and also  so you  can  become familar with the process  2)  you will need a  down payment of  15% or more   3) once you know what a  possible  realistic  loan payment  looks like - do your  reserach on  what  rental incomes  are  realistic  and  this should help with your  decsion making .....the prices are  high in LV ...Port angeles  or  P townsend  might be  better ......consider  Kitsap county  ( although its  been  increasing in value )

* I usually set #4,5 at 5% of gross income