We are interested in soaking in absolutely any knowledge that anyone has to pass on.  

If that property passes a rigorous due diligence process and you choose to pursue it, I think, as a new investor, your best strategy is to figure out if it would be possible to buy the 2 acres with the duplexes and sell the other 8 acres.You can get up to speed on handling those or hire a PM a whole lot faster than you can figure out how to develop raw land. 

Thank you for the reply MarkI've spoken to one of the local branch manager and was able to find out that bank has board meeting every other Tuesday but it's now been over 2 weeks and I'm gonna wait till this upcoming Tuesday passes, to see if I hear anything.

I want to ride that line of not passing up "good" deals in search of the home run out there.

My parents just moved to the Redlands and I'm out in Venice, so pass by your quite a bit these days.

Now, the income will pass through and reflect on your tax return, but it is still safer to use your business account and simply less hassle is all.

In the future, I will probably set up an LLC and use that to hold these, which would reduce the audit risk (even though it is the same business and form over substance) and then elect S corp taxation so not all of it will be passed through as social security/Medicare wages.

A ton of information and pretty entertaining. :) I'm originally from San Antonio but live in L.A. now and looking to buy and hold in San Antonio.

This forum is not a place to discuss business its purely entertainment and I hate to say it Bigger Pockets is a place for people to get scammed.   

Cash on cash return is to good to pass up so I am buying it, but the point is I treat it the same way I do on 50 unit.