Hey Aaron,Good job putting yourself in position to achieve your real estate goals by starting to learn and take care of your other debt.If I understand correctly, you're suggesting acting as the landlord, where once you fix up the place, you can attain a rent higher than the expenses, and you pocket the difference?

If your competition has similar finishes (old appliances, no central AC, etc), then you manager is right to tell you to keep. 

Hey BP,I live in Denton, TX but each of my 4 investment properties are out-of-state due to high purchase price and lower cash-flow on most properties in my home town.I am considering starting my search for some off-market empty lots closer to home that I could put new construction on, doing a lot of the interior finish-out myself. 

It is a 80% 1st mortgage, followed by a 10% HELOC and you bring in a 10% down payment to finish out the 100% of the purchase price and avoid mortgage insurance. 

I'm currently still in Lubbock finishing my final semester at Tech.

These homes range from 3000sf to 3600sf and each have finished walkout daylight basements and these sold homes have recently and consistently sold at $220/sf. 

He has a full basement underneath that they have started framing in more apartments but quit before they ever got them finished.

@John Tiernanhttps://www.therealestatecpa.com/ultimate-guide-irs-schedule-e/https://www.biggerpockets.com/renewsblog/rental-tax-write-offs/Warning: your deductions do not start until the rehab is finished.

Everything seems to work fine until after finishing the report. 

Have bought 1 hold, just finished an 8 lot subdivision which I was considering building 4 new to hold.