I am trying to come up with something as back-up to argue my case that if we are expected to do full maintenance, then rent needs to be a LOT less.Of course, ideally I'd point out that "uh, you know, any other tenant, you'd be expected to actually do your part as landlords and maintain the property"... but I'm trying to be diplomatic with the in-laws.Originally posted by Fran Flanagan:Prices in New York are insane compared to the rest of the country.

If you require partners approval some would argue you do not have the legal authority to execute a contract.

mitch, you're hardly sounding like a broken record after 10 posts...some guys are on here every day giving the same advice over and over...jon, for instance, constantly breaks down the 50% rule for newbies that want to argue with him....good advice is always needed here, and it's appreciated

I've always considered myself all 3.activepassivebusiness I'm confident I could argue any of the 3 to my benefit with tax man etc, as I've done on previous occasions.

If you are purchasing rental property that is a way to have capital gains however if you do it over and over right after the one year mark the IRS may argue against 1031s.

@Jeff Jenkins If you haven't read "The ABCs of Real Estate Investing" that might be a good place to start for some sample analysis, and then you can easily build a spreadsheet based on the formulas in that book and prove that your tools work.

You may be able to argue negligence or some other aspects.

You could argue it's a great time to start... if people accept what you typed as true, there are going to be some current landlords that are looking to get out (i.e. motivated sellers)... if you can get them to over estimate the impact of those new properties (through your marketing and negotiation) you might be able to get homes at fire sale values allowing you to accept whatever impact there is and still prosper...

Since then it has been a non-stop read-a-thon(investing for dummies, TP entrepreneur, ABC's of Real Estate, REI for dummies).

The appraiser argued that the current rents are the best estimation of "fair market rents."