Sits on a corner lot right across from the elementary school, so the location is great.

Sits on a corner lot right across from the elementary school, so the location is great.

Things could really fall apart if a new person enters the deal in the late stages.

That usually takes about 1 week to go to agreement depending on holidays and time of the year with vacations etc.Then you go to the purchase and sale stage.

As you can see, the last 3 recessions occured at the peak of a surge in corporate debt to gdp, and from the looks of it, we're in the late stages of yet another surge, this time even higher than ever before.

In which stage are you in your quest?

And quite frankly at this stage I want a nice property that I can point to and be stoked it’s mine. 90% of my buildings are garbage that happen to toss out cash.

Decided to upgrade the property on the finishing stage and invested 15k of my own on top my original money from the comstruction loan.

So, I'm looking to do my very first deal, with the goal of getting in the game and achieving cashflow.Found a potential rental property and wanted some perspective on the potential of this.Single family home, 3 bd 1 bth, 900 sq ft.Built 1926, last remodeled in 1960.Asking price is $80k, down from $90k after 6 plus months on the market.Property tax is $1,200/yr.Going rate for property management in the Treasure Valley is approximately 10% of rents.This is located not far from a small college (1100 students) in a suburb that is rough in some spots but is in the beginning stages of revitalization with a population of 50k plus in it's section of the Boise metro area.  

A tax preparer who has rental property experience should be able to help you at your current stage.