Weird bathrooms so I built my own vanities since they had to be custom fit, EVERYTHING in this house was runed, every ppice of glass, sliding doors, air handler and a/cwas gone, holes in the ceiling, ou name it. 30k was chump chage on this boarded up home!

The only way to protect yourself is to get a built in pad and to purchase only in EXCELLENT areas or in area's where you can have a break even case flow when you are done re habbing.

After a few hours of reading some of these books, and perhaps checking out some of the excellent publications on the IRS' website (I'm assuming you're in the United States), you should have a better idea of the tax advantages that property ownership brings, and you should have a more specific set of questions that you can ask here to get the nitty-gritty detailed answers to.

mikeyi have an excel spreadsheet that you can use.

I think this discussion is an excellent learning opportunity for newcomers (like myself), as it provides a real-life sample for evaluation.First, is this essentially a form that outlines the mortgage for which you’ve been approved?

Does excellent work in a timely manner but costs an arm and a leg.

Hello, your advice was excellent and it really works for beginner also.Thank you!

Performing Notes - The greatest stratgies for this if it is a performing note and they pay on time is to hold it and collect compound interest.Otherwise there are numerous companies looking to buy seasoned notes of two years or more that have an excellent payment history and good credit.Non-Performing NotesWhich are my favorite.

I have a real estate background so I am not completely lost but I am used to going to a law office, sliding a check, getting keys, a title binder, and a deed.

Never pay more then the property is worth and always inspect if you can.I make property tax loans and i buy houses from motivated owners whom owe delinquent taxes but I do so outside of the auction.I have a degree in engineering and I developed a program that searches for every property owner who owes back taxes and it spits out the results in a nice excel spreadsheet.