The place seems clean and well-kept. 4 minutes from CTA station on brown/pink line.

From those one looked fairly good, well managed on the upswing as a new owner had come in and started remodeling and kicking bad tenants out. 24 unit complexList 565,000Purchase Price 535,000Gross Rent:138,000Less Vacancy(10%) 13,830Operating Income 124,470Property Tax 8,837Insurance: 6,900Management(6% after vacancy): 7,468Maintenance(6%): 8,298CapEx(6%): 8,298Water: 8,400Waste: 2,700Electric: 8,400(laundry room, hot water heaters, security camera's)Cleaning(unit turnover): 1,800Landscaping: 600Operating Expenses : 60,301Net Operating : 64,169Loan Payments(100% financing): 42,369Cashflow:21,80024 units - 16 2bedroom and 8 - 1 bedroom lofts.

I've used them for non-conforming condos that were still pre-rehbab and they are pretty flexible with what they can lend on.

If by the 401k plan, then the 401k plan can get a non-recourse loan.

If you used the refinance proceeds to buy a new car and pay for a trip to Disney World, then the mortgage interest is a non-deductible personal expense.

Hi We purchased a property last year, a tenant living in one of the apt was cleaning the building for the previous owner, and got $50 off her $650 monthly rent.

Unless you accept a cleaning deposit. 

It's a slower process building your business credit reports for non PG credit.

So it would probably be in your best interest to wait until the lease ends and let the renters know that you will not be renewing their lease so that it can get fully cleaned and ready for showings so that you can get the highest offers.

@Matthew WardYou are correct - Florida does not have an income tax on individuals.If you operate out of state - a portion of your income may be sourced to a different state.You may be required to file a non-resident state return in that state.The Federal tax return reports income that you earned from worldwide sources.