I understand that margins might be tighter, and income may not be as attractive as the STR market, but we also don't have the capital, time, or competitive edge to deal in the STR market in the 30A corridor right now.Don't get me wrong...

Buy and hold for rental income?

Wouldn't the very nature of doing REI'ing (Rehab and sell) qualify as earned income?

At this point, she may be counting on you for the income on this particular deal.But I would still put the proposal out there to her James !!!

Depreciation recapture, income taxes on the depreciation taken, are due upon the sale of the property, regardless of sale price.  

This property was my only source of income.

I share the details here to show what a series of small low-risk transactions can do over the medium and long term to build passive income for retirement.The PA is for a 1 BR condominium unit in a 150 unit complex where we already have 22 units, bought in 3 earlier transactions.  

We tend to focus on demo's that are 75,000 median income or higher unless a college town.

So hoping to put 20% down and pay mortgage in full with income from roommates.

I am looking for SFR properties to flip to retail buyers, as well as have a wholesaling campaign to supplement my income.