Due to my lack of experience, two of the lenders required the use of a professional property management company from their list of preferred vendors.

Professionals understand that they are responsible for the loss of use of a property due to negligence or failure to perform as agreed.If a contractor tells me work will be done in a week, I'll usually allow another 20% or 3 days in this case. 90 days will get them 3 more weeks, that is plenty of time for the CG to cover an issue.Toward the end of some jobs, when there is not much money left in a job you may find a CG who starts moving on to other jobs, they may tend to slack off, dragging their feet finishing a punch list.

If I remember in basic accounting classes, if you buy back debt you owe at a lesser value than what it was issued at, that is considered a financial gain in the IRS' eyes and we know what the IRS does to financial gains.I'm not 100% sure, that's why I would think its worth a few hundred bucks to find out from a professional.

I'd recommend finding a tax professional (Preferrably a qualified and reputable Enrolled Agent or CPA) We here on the board can definitely help you find someone.Summary: Everything can and will be deductible.

After interning at a local CPA firm and talking with numerous Big Four professionals, I came to realize that although I did well in accounting and took full advantage of accounting clubs and associations, real estate was my true passion.

I am not a professional writer or a professional social marketing guru, I really don't know if I am on the correct track or not.

The neighborhood is very desirable to professionals, walking distance to the regional hospital and five minutes to downtown.

Thought that when I hand a card out with my property pic on it, which by the way I always do everywhere I go, that it might make it more appealing for a prospect to go to the professional website and take a further look see at my fantastic and beautiful properties(mine are better than everyone elses of course).

One can be an excellent agent without the certifications, or a poor agent with a business card full of acronyms.Aside from the normal qualities desired in any professional -- good communication, reliability, diligence, initiative, responsiveness -- a good investors' agent needs to have a level of expertise that's hard to get in a classroom.

An individual needs to perform their due diligence before forming any professional/contractual relationship and that is what I'm trying to accomplish in asking how I can best perform this on a wholesale mentoring program.