Also demolition costs can be expensed if this cost segregation is done.The temporary regulations cover 2013 and 2014 and the final repair/capitalization regs are expected to come out mid year 2013.A good tax professional may be able to identify some items that can be expensed though in the current year.

I am in my mid 30's and have a wife and 3 kids (kids all under age 6) My only experience with REI is successfully turning my first home into a lease option 10 years ago.

I'd recommend MAREI (Mid-America Association of Real Estate Investors):http://mareinet.com/They meet once a month.

This could change but for the short to mid term time frames it looks like supply will be limited.

But if you can get into a decent part of Oakland for little down, secure a low rate 30 year fixed loan, and manage the cashflow mid term, you have a decent chance of setting yourself up nicely 3-5 years from now.

The property I'm looking at now, I know the owners are in their mid 80's, I know he's still alive because I called him and his shaky voice is on the answering machine.

Kids are back in school - parents don't want to have to make kids change schools mid-year.

I’ve been learning about the different exit strategies to determine what best fits our current situation and have decided to concentrate on multi-unit affordable housing, including apartments and mobile homes in the mid-Atlantic area (primarily Virginia and Pennsylvania).

2 of my properties are early 1900s vintage and the 3rd is mid 50s.

The typical term on an HML is 6 months to a year with interest rates in the mid-to-high teens and a hefty down payment.