The IRS generally states for 1031 the property needs to be held for investment purposes and not resale purposes. 1 year is usually the baseline most go by.Now how much gross rent are you charging per house per month currently??

I thought the 2% rule was based on not have the gross income fall less than 2% of the purchase price which in this case is .9%.

Then model out the results of deploying your capital in your two scenarios, just make sure to use vacancy/expenses/reserves of 50% of gross rents, or possibly 45% if you intend to self manage.

I cant get rid of the smell, even though I have new carpeting, vinyl. its gross. very gross, but the former tenant is not held accountable. disgusting to me. 

Good point @Jon KlausMy observation of these deals (I'm in Jax) is that they're using anticipated gross rent to come up with their return.Granted it is new construction, but things still go wrong...

We currently live outside the U.S. so we're not in a position to buy a new home or rental, but I want to plan out our savings over the next three years in case we do want to buy another home or rental upon our return.With regards to a self directed ROTH IRA, the few REI books I have read recommended against that to novice investors (me) and because you can lose some of the tax benefits normally given to REI properties.I get a 5% match on my gross, so I could reduce my 401k contributions, but the idea of taking out my earlier ROTH contributions with no penalty does intrigue me as well.

Hi guys,

I'm looking at a deal in Chicago. It is a newer triplex (2008) at 1344 S. Karlov Ave in Chicago. The one caveat is that these are all section 8 tenants, which I have never done before. I know some pe...

For now lets say I'm buying the houses Turnkey for $846,150.2) Monthly gross rental income if all the units are rented is $15,1473) Properties are owned free and clearThanks for asking the questions.

i found a small 2 bed home for sale 750 sq feet for 185K, which needs about 15K worth of work...a flipped home on the same street just sold for 315K but is 950 sq feet and totally flipped.should i buy it at 185K, then flip it and add 1 more room (roughly 225 more sq feet) to make it 975 total sq feet, at a cost of 25K or 110 per sq foot185 purchase +25k in additional sq feet + 15k flip = 225 all inAfter Rehab Value (ARV) = 320would you flip this and sell to get gross 95K?

I'm just concerned that they are paying to much for the revenue they are getting.They are listed at 210k each and hope to get them for 180k each and the gross revenue is currently 3,800 combined.