My condo has 16 units and the hoa president owns 4 and is telling me that the 40% rental restriction is in effect which means that 60 percent have to be owner occupied and only 40% rental.

There won't be a lot of how to invest (get that here on BP) but there will be a ton on what to do once you acquire one plus market, economic and political factors that effect apartments are covered.Rental Housing Association of Puget Sound http://www.rha-ps.comWashington Apartment Association http://waapt.org/Washington Multifamily Housing Association http://www.wmfha.org/Washington Landlord Association http://www.walandlord.com/Some are more focused on smaller properties, some on different parts of the state, some have better networking, some have more educational programs, some have great speakers at their events.

If you're going to manage risk effectively, an annual lease term is really too long to go between inspections: an accident that happens as the result of a repair issue can cost you dearly.

I don't want to use it in the effect of bragging, but more as a way of letting them know I have resources to help me succeed.Sounds more like it could hurt more than help.Thanks for the input.

Second example would be if you have a lease term in effect and the tenant wants to terminate the lease prematurely; it is common to have a two month rent fee for early termination so that could be collected and the tenant would no longer be in the unit.

How is that effectively handled, especially when starting out and potentially getting a lot of calls from tire kickers?

Based on the Proposed Treasury Regulations section 1.1402(a)-2(h)(2), there is a strategy that will effectively reduce your self employment tax up to $60,000 - $70,000 with your wife as a limited partner.

Glad you hit the site and have been using it effectively! 

Once both properties are paid off I can either get another loan using the equity from 110 or and 108 or get another VA loan move it the new home and pay it off via triple payments.Currently I hold $5,000 in a separate account to account for the unknowns.I feel that started off very slow compared to other stories on BP but I am thinking hoping that the snow ball effect will continue to grow.What are your thoughts?

If it were $55/month, you are effectively borrowing the other 16.5 percent of the of the deal for $660/yr. divide this by the amount down you don't have to come up with then and see what it is costing you (effectively its interest rate)So basically if you are intent on doing deal 2 in a couple years, that may make your choice for you so that you don't checkmate yourself right out of the gate.