How can I negotiate to buy a house that didn't sell at $749k on the open market, subject to the existing mortgage with cash over, seller pay the broker fee and i buy "as is, where is"?

Or maybe you can partner with someone to borrow $10,000 today to make the repairs and pay them back $12,000 in one year (20% interest).You also need to really crunch the numbers.

Are they a good tenant and paying rent?

My question is, does the fact that we rented the home exclude us from being eligible on not paying taxes on the first $500k proceeds from selling after two years?

I'd really appreciate feedback with regard to whether I should move forward with investing in real estate, or to let the desire go for the time being: I'm 34-years old, married, have 2-children under the age of two, own a home, and have a stable and good paying job.

If it is cheaper to own, you may want to buy and even if you sell in 2 years (assuming the development is finished on time), you may still come out ahead in terms of selling the property vs paying someone else's mortgage.

Hi everyone, Quick background, I'm a real estate investor with a high paying W2 job and credit score around 780.

I am in Cape May, and we are allowed to do as we wish down here, although the season is a 7-day minimum.You actually stand to do well and have less expenses and wear and tear from multiple turnovers, but those 30-day tenants don't grow on trees, so you are going to want to market hard.Please tell me you aren't relying on AirBnB in NJ - Tenants pay 20-30% more here and you get none of that overage - booking direct saves them that service charge and taxes, so you could actually up your rent and collect more yourself and they'd save $$.

Con I would say is that you have to do the work or pay someone lol Its a great way to learn about how to rehab properties without having to stress about any timelines. 

Certainly paying them a wage or fee reduces your rental income... but then they have to recognize that income (perhaps at a lower tax rate?).