BTW, he and his roommate were registered sex offenders, with minor children by force, abuse of authority. 

They're minimally leveraged, if at all so they may actually make a couple of bucks a year, but they're buying on speculation. 

As a REI - I need a CPA who is also a REI who is up to date and educated on real estate tax code! 

Your depreciation will actually start in the month and year it became "occupied" as a rental, based on the original purchase price, minus land, plus whatever capitalized items you did to prepare the property for rent.

The clients that I get very concerned about are the ones that are telling me how to do my job.Overtime, they become the most expensive in your business because they take an emotional toll as well as more actual time.These people are almost never satisfied and are quick to jump the gun on everything.

Bowie Yeah I’d probably lean keeping it, it’s gonna be a pain to rent a property of that size, but you have a great rate, and I do think Bowie is actually one of the area’s that has the most remaining upside in the dc area.

Understand their fees, bid process, termination requirements, markups for work done, how they confirm fair bidding (especially if they have on-staff handyman).I would talk to the actual tenant in place to understand what their experience is with both property and management team.I would drive the area to understand how your property compares to others on the street/in the neighborhood.I would talk to other management companies and realtors to understand their understanding of the market, rent levels, etc.Basically, full due diligence and underwriting of the property.

This makes them confident to actually execute.

I would do that if interest rates were actually low. my current interest rate is 2.5% so i don’t think i would want to give that up.

More bang for your buck at launch, no equity but it gets you started. you can roll the profits into a purchase at a later date. good luck