It is agreed that the purchase price shall be 600,000, 200,00 for land and 400,000 for improvements.Just had a good thread up this am on conversion of rental properties and capital gains, it covered the tax requirements for rentals to primary.

Here are a few recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below.

Here are a few recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/ If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below.

The masses seem to preach direct mail as the tried and true way, but like Alex mentioned, in this competitive market is direct mail a viable option for those who don't have a budget of $3,000+/month.Any feedback and statistics (response rates, deal conversion rates etc.) from people currently doing direct mail in SoCal would be greatly appreciated. 

www.thedeltaapartments.com The marketing plan conversation is on my top of mind right now. 

Hi Guys.I see the conversation aged a bit already, but I am just in the same situation and thinking of the possibilities. 

Where does the conversation start/end when someone responds to one of my ads? 

I did ask her if she has any contacts as we've had this conversation before about my looking at investments outside of our area.

I look forward to conversing with everyone and possibly meeting a few of you!

As the site continues to grow it can be more difficult to follow conversations, and I almost always forget to "follow" the conversation, most forums auto-follow after you reply.