TONS of SFR listings in the Troost corridor heading up to the river and then curving East along independence Ave.But they present many challenges; vacancies  (due to below C market tenant pool), increased maintenance and repair costs (due to below C market), and increased cap ex due to homes in this particular region being older (many century homes).Then, even if at the end of the year it does well from a financial analysis standpoint, you may struggle to find the necessary and diligent and high performing property mgmt necessary to manage said property…so then if you self manage OOS, you will need a strong ‘boots on the ground’ team.many challenges come with these ‘$ sexy’ properties.

Loans are almost always used as proof of correct "investment intent" under an audit scenario. 

Though it might “seem” that you can arbitrarily attach the “tax basis as the fair market value” and thus receive $0 gain, the IRS would not respect this if you were selected for audit.

The overall goal is financial independence and educating and setting my boys up for success in their futures.

IRS audits and penalties: Studies that are poorly conducted may be full of unsubstantiated assumptions and errors that can lead to expensive audits and large financial penalties from the IRS.Long-term issues: Dealing with IRS audits and having to correct inaccurate studies can be a drawn-out, stressful and expensive process.

And plan on decades to get to financial independence.

I also call the previous landlord by looking up the old address and trying to independently verify as much as possible before calling them.

I am an Associate Broker and I have been approached by my Broker which owns the independent Brokerage in purchasing the business.

KBKG was the first company ever to launch a self service software for properties this small and it has been through IRS audit numerous times.

I build in Independence Heights which is usually in the 500 and 100 year flood plain.