Plan for funding the reno was through my W2, cash I didn't use on the down payment and a business CC with 1 year zero interest. 

New RVP flooring and painting walls, trim, and ceilings are also included in this cost.Deck additionWith space to enjoy the great outdoors continuing to be high on home-hunters’ wishlists, a deck addition is a great investment, even if you plan on selling soon.

To do well, learn about real estate, make a strong plan, meet local investors, check the market, look into loan choices, start small then grow, stay ready for changes, and get advice from pros.Learn about market trends, loan options, and ways like renting out for long or short terms.

From a tax planning perspective, you are only allowed to start writing off the home once it is placed into service (once the lease starts).You are also only allowed to write off the depreciation, and any other costs or losses against the earnings from the property.That is, unless they get the real estate professional status, which requires 750 hours a year working in real estate.

I plan to travel down there next weekend (about 3.5 hours away), so I am gathering all the necessary info.If I did cashout refi on my current property, i can pull out $155k towards this but will be left with an additional 45k or so if doing 80 LTV, which is why I am leaning toward seller carry a second mortgage.Lenders out there, now you have my deal, can you do it?

I need to draw up plans, get a site survey and do some other build up.

I am just starting my plan on getting my first investment property this year.

We are planning on buying a rental property in Plano, TX.

Will follow along to see what others plans are.

Stay Informed: Keep abreast of any changes to property tax laws, rates, or relief programs that may affect your tax liability.5.