If you are on cash accounting, yes you could do that.On the other hand, you are ignoring carry-forward losses. 

One consideration as you are working on locating private lenders, is that IRA, 401(k), and other retirement accounts can be used in many cases to make private money loans.

But ask your CPA/accountant because I don’t know. 

I took into account a likely cheaper labor rate but will say when we owned units in gulf shores that i was not encountering that low of a labor rate.  

It's up to you how far to take this though.When we're faced with this, we try to hold the tenants accountable, by pushing hard to do self-showings.- Who better to show the house and speak positively about than a current tenant?

I'm looking to create relationships with wholesalers, real estate brokers, contractors, real estate attorneys and accountants! 

Are monthly updates preferred as long as there is bulletproof accounting? 

Originally posted by Account Closed:Robert Lindsley That's the exact issue.

But now things are working more smoothly and after finalizing the accounting for last year, I have a better idea as to what kind of profit to expect.  

Our account manager, Maria Barnes, responded quickly to our questions.