That is basically one of the foundational upsides of rental property investing- have someone else pay and build equity for you.

I get that my AGI will be less than what I earned, basic tax stuff here.

No CapEx) Monthly profit: $70.46 (so basically nothing)Cash on Cash ROI: 0.79% (ouch)Cap rate: 8%As you can see, the numbers are grim...My options as I see them are as follows:1) HELOC to gain access to this equity.

-- I let him know what I was going for and he critiqued and provided positive feedback of why not consider doing X,Y,Z.We are meeting up again on Tuesday for lunch and I'm compiling a list of Questions, both to get feedback and I want to put together a list of questions anyone would want to ask if they were a new investor getting into real estate.Now I have a basic list of questions to ask, but because I've never really thought/considered/known much about RE I don't know what to really ask, any seasoned investors remember their beginning and some questions you wish you had asked or learned of before jumping on your first deal?

Basically, you know what you've invested into the home as I assume it is complete?

That’s basically it.

Since I’ve got a full time job, I’ll be starting my RI’ing part time on the weekends.If anyone if Phx wants a cup of coffee, I’d gladly buy just to sit down & learn the basics.

What is the terminology for the vehicle that basically does the same thing?

For example, assessment records may show a house on the property, but it may have been torn down a couple years prior.

Basically I do the labor and up keep, help him with cutting and splitting firewood from the land, and cleaning years of trash dumping on it by him; in exchange for ownership of the land in 10 years.