I coughed up 14k to replace the entire sewer line.

Generally, in the beginning your property will show a taxable loss because of depreciation and whether you can use that loss against active income (W2) will depend on your MAGI (for simplicity your AGI, line 37 of 1040).

Maybe you need some help finding an investment property to start BRRRing, multi family, or single family, you can’t start something if you never take the first step, start small, little bits of information lined up in the right order yield fantastic results.

Maybe you need some help finding an investment property to start BRRRing, multi family, or single family, you can’t start something if you never take the first step, start small, little bits of information lined up in the right order yield fantastic results.

-You mentioned this is a rehab property, depending on the extent of rehab it needs you may find the property is not eligible for some mortgage products. 

Each of these variables seem fairly flexible, so we are just trying to make sure our offer is in line with seller-financing norms.

Then you can advertise and get a lease lined up for when you move.Two considerations: 1) If you want to refinance and get out of your personal name the local bank will probably want to see some seasoning on the lease which you may not have on the side that you living since you are leasing and running.

We really like the product.

I called my listing agent and she said I am first in line if the deal falls thru.

My lender has incentive to sell me a product, so I can't always assume the idea is prudent simply because he likes it.