Until then, if you can find a business advisor type or due diligence program not affiliated with the subject asset, check that out!  

You must (and should) depreciate investment property whether or not you are actually able to take advantage of the deduction for income tax purposes because you will be subject to depreciation recapture tax as part of the gain calculation whether you took a deduction for depreciation or not. 

This is all subject to appeal and years of court rangling, and that is in states like Nevada where the fight has been won at the state level.I'd love to hear how Conny W. plans to make money for investors by selling Florida HOA liens that have no super priority whatsoever.

Even if you simply got the bank to agree to let you bring the loan current and purchase the property Subject To the existing financing, you're looking at being into the property for $390,000, when the property is only worth $350,000. 

I'm sure others will have more thoughts on the subject.

You do not have access to the interior of the property, are subject to existing liens other than the one you are buying, need to understand if you are purchasing a first or second lien position, and you are subject to living with existing leases if one exists. 

the reason for havi g the S corp, is so the scorp can pay you a "reasonable" salary, subject to withholding, then the rest as "profit" not subject to withholding.  

I would take these actions to get started:- Research and read forum posts on the subjects you are interested in.

The 2% rule basically says that for rentals you should be able to rent out your house for 2% of the purchase price each month, i.e. for a $100,000 home you should be able to rent it out for $2000/month and the 50% rule basically says that over time 50% of your monthly income will go towards expenses (i.e. taxes, insurance, vacancy and repairs) While im not sure that the 2% rule is necessary for SFH since joining bigger pockets i have found that most serious investors dont operate on less than 1.3% and that the 50% rule can be cut to 36% if you are managing it yourself as roughly 14% goes to a property manager (but you should still want to pay yourself as a property manager) i would recommend reading the beginners guide it has a lot of helpful info on this subject Nick

The sale is subject to the seller's approval which means it may or may not be sold for the bid price you see.