You have money down and the older investor might have used up his depreciation schedule.

I am from Portland, Oregon and currently have 2 duplex properties in Austin, TX. I am primarily interested in buy/hold type properties, but am open to flipping and wholesaling. I am looking to add 5-10 units in the ne...

Seasoned flippers or investors tend to put bids on properties like this knowing that 1 or 2 will lose money for every 10 deals they do. 

It hurts to have already spent $4,000ish in closing costs and then come back and pay it again now that the 6 month seasoning period is up.  

As the market keeps edging up more and more, I'm going to slow down and go ride my bike a lot more... starting to think about taking the year off and just ride, then check back in the fall when most deals start happening as people normally sell before the tax season, or after the tax season in the spring.

It is an older house - early 1900's.  

The 3 bedroom is vacant and we plan to renovate (approx 5-6k in renos) and the 1 bedroom is already rented to what appears to be a nice clean older lady who has been there fro 6 years.

This is a strategy a lot of people use as they get older, when rate of return is not quite as important anymore as protection of principal.

Anyone out there have an older unit than 1967 that is still running?

So is this gentleman who I interviewed correct?