Also on our mind is concerns with liability, in the event that something happens on the property of a serious nature (ie fire etc.).

My first investment was a rehab project, as my background was in general contracting / structural engineering...so it was sort of a natural progression for me. 

Good afternoon everyone,My dilemma: Contemplating Purchasing first 2-family home. 3br lower 2br upper Pros: - Location, in the heart of town- Tenant paying $1500 for 3br and wants to stay (been there four years)- Water heaters, Furnaces newer with separate meters for each unit- Natural Gas - 2 Car garage - Corner Lot- .24 acres- Based in rentometer.com 3br rent for $1700 on average and 2br $1550 on average for its location- 3BR has one and half baths- Laundry hookups both units - FHA Loan, less down payment- Owner occupied (id live on the top floor while renovating)- Foundation is solidCons:- 2BR needs a complete renovation to the studs- 3BR needs renovation but nothing right away (tenant is happy as of now)- Leak from fireplace/roof which is ongoing- Taxes are $4500- Price listed at 360k- Comps have sold around 330k, but don't have the garage or location- No cash flow until I were to be done renovating and buy another- Some plumbing neededI got a CAP Rate at around 8.5% with it being sold at 360.

I had an amazing christmas with my wife and 2 little girls, and naturally I felt depressed once it was time to get back to work.I realized I needed to do something about that.

I ended up going with Ray CPA for two reasons; communication was easier and more natural and the variety of professionals he has on staff - CPAs, MBAs and an attorney.

Sometimes it's hard to find that line but you'll get the hang of it and once you do it'll become second nature.

They might like you too much, you can't get rid of them.You have to deal with people who are going to automatically not like you, for whatever reason.People are going to stereotype your age, your gender, your race, your religion, your education, your sexual preferences, your home-town football team, your choice of socks.It's natural.

Sometimes it's an intermediary, but generally we don't worry about it since 3rd parties will hold any EMD & return it if there's a title problem.We don't hold SFRs anymore but when we did we'd naturally check market rents to see if can make our numbers.

Naturally the last thing he wants to do is live with mom and dad.  

Arguing suggests a certain aggressive and hostile nature, counterproductive to dealing with Examiners, Revenue Agents and Revenue Officers who have seen it all before.