Hello,I recently closed on a BFD deal and looking for direction on correctly setting up journal entries, to make it easy at tax time.In a nutshell...We hold a mortgage on the property with a principal of $150k, 4.25%, 30yr amort (liability)The BFD sale price was $300k, with a $45 downpayment, $255k financed at 5.5%, 25yr amort, 3yr balloon (asset).All transactions are run through an escrow agent, and we just collect the net difference monthly (~$325 or so).   

I have priced the cost of the warranty deed into the purchase price as well.

Now there are a ton on AI chat based tools and they do a decent job.They can create a script on how well you tell them to do.you can use the AI chat websites likechat.openai.com  -- no access to the web for real time datachat.perplexity.ai -- this has real time access to the webChat.forefront.ai -- Has access to real time webyou can use them to create:1.

I found a duplex that currently cash flows very well even with today's rates. 

I will say that when I started I was dead set on multi-family investing.

The VA sets minimum credit standards for loans, not the individual lenders.  

I have a 2 family in Queens and planning to convert to 3 family as well

It is to prepare you for the inevitable and create a Defensive position.It is calculated using Rent.Example: $1,000/month rent - set aside $50/month for CAPEX, $50/Maintenance & Repairs, and $50 for Vacancy.

Crosby as well (from what I have read).Prices are still quite high so you have to buy right and in the right area in order to stay profitable.

I'm well versed in both so let me know if I can ever help you.