(Numerous exceptions exist, this is just general rule).

Save 50 percent after tax income.

My leases say that the renters has to cover the first $50 in repair costs. 

With my ultimate goal at passitivity that sort of rules out flipping. 

I'm new to all this but how am I able to make any money adhering to the 50% rule?

Initial impressions are key, as well as great follow-through.)Your documents, rental agreement, and property rules (These need to comply with the laws of your jurisdiction, professionally presented, and be top notch to serve both you and your tenant well.)Good Luck!

Note investing is not passive and it takes time and effort and the first year you will learn a lot but there may not be a lot to show for it and people tend to give up very earlyI would be happy to chat more offline about where I received my training etc as I know there are rules on BP about promoting people and their courses etcThanks

Not sure of the rules if they move out early for a voluntary transfer versus being shipped out for war reasons.

FYI it's generally going to have to be "dumb person and toddler" proof to close on the purchase ("dump person and toddler" proof is an easy rule of thumb for when an appraiser is required to call something out as a "health and safety" hazard), assuming you are getting a normal mortgage.

I'll let our esteemed CPAs battle that one around.Conversions when done by individuals since 2008 have some different rules that you would want to be aware of if they apply to dissolved partnership property.1.