But again, you need to get trained in how to market- first in how to find a 'target' market (people in distress from foreclosure, BK, job relocation, job loss, divorce, probate,tired landlords, back taxes,) and then how to advertise (bandit signs, classified ads) and direct market (business cards, door hangers, direct mail) to them.IMO, REI is much easier to learn because it's all just math.

As prices continue to soften, there will be better conditions for buyers and more sellers will wish they had been able to dispose of the property in 2013.There was an auction held recently where the Seller walked away with a loss over $3 Million amerikana dollars on 3 high end properties.

'our loss is your gain'.

Will this number when added to other things like food and utilities allow them to afford your property?

Food for thought.

He has to get food sometime.

Cap gains will be due even if you wait a year on the gains (or losses) in the new property and in the original property.

Consequently, parks are extremely tax efficient and often allow for excess paper losses that real estate professionals can use to offset other taxable income.

You might find that in the law of large numbers, there could be a 40% loss or delinquency rate say at the 125K to 150K arena, won't really apply to my specific underwriting.As a mortgage broker I had one of the lowest delinquency ratios in the nation with my wholesalers, always in the top 2 to 6% range.

At the time a personal residence is converted to rental use, the tax basis for depreciation is the LESSER of fair market value at the time of conversion, or the cost basis (original cost + cost of improvements - casualty losses claimed).