(April 15th, June 15th, September 15th and January 15th) These are the estimated payment due dates each year. http://www.irs.gov/pub/irs-pdf/f1040es.pdfIf your state has an income tax, you will have to find their estimated tax form and fill that in as well)Be prepared to pay 30% or more of your total income in taxes(Income and SE tax which is comprised of both halves of Social Security and Medicare)Second, since you are in business for yourself as a sole proprietor, you will file form Schedule C with your Form 1040. http://www.irs.gov/pub/irs-pdf/f1040sc.pdfYou will want to include your payments on your 1040 when you file your return.A single-member LLC would have no difference as it is treated as a sole proprietor for that purpose.If your LLC elects to be taxes as a corporation(preferably an S-Corp) You would be required to do the same thing; however, you will also be required to issue a W-2, and file employment tax returns.

It was a good choice.

I would prefer the market rebound and rent it in the mean time.

Buyers and renters may prefer an additional bath, but may not be willing to pay enough more for it to make it a good investment on your part.

After 2 years, you have a choice... you can either refinance your FHA into conventional (NOO will typically only loan to 75% LTV) and do another OO FHA... or you can buy your next OO place conventional (typically 20% down) and leave your funding as is on the 1st place.

I know that tenants prefer electric appliances because then they get one bill (and one deposit).

Its not really anything I've seen but just my personal preference on risk/leverage.One example would be if you had a house with an LTV of 60% that rented for 1,500 but only cash flowed $100 per month.

You also have the option of doing it in a letter format; however, the IRS prefers the standard form.

He did tell me that we could get an FHA loan with 3.5% down, but for a number of reasons I would prefer to get a 5% down conventional loan.  

Schools - accountability, choice, introduction of market system.10.