That's an incredible number for cashflow btw.

Never saw that technique- it would catch my attention as well.

There are definitely some ways you can use some of the money from your credit cards to get a deal going but it will require some other creative financing techniques.

You could probably buy from individuals incredibly cheaply that way (instead of buying at "market value") simply by offering a little bit more than, say, a pawn shop would (since, as I mentioned above, from what I understand, those places tend to buy them back for dirt cheap rather than "market value") and then turn around and resell them to the public for market value.That wouldn't really be "investing in diamonds," though -- more like just opening up a jewelry store.Of course, I only know what I've read about it.

Thanks so much Account Closed BP has been an incredible new source for me.

But I could not find his post on that.Here are some threads that might help the OP: http://www.biggerpockets.com/forums/51/topics/81868-home-repairs-and-tax-write-offs http://www.biggerpockets.com/forums/51/topics/110032-cash-bought-primary-residence-to-rental-capital-gains-and-costs http://www.biggerpockets.com/forums/51/topics/70013-techniques-to-report-capital-improvements-as-repairs http://www.biggerpockets.com/forums/51/topics/116094-how-can-i-take-advantage-of-depreciation http://www.biggerpockets.com/forums/51/topics/108905-room-for-interpretation-in-tax-laws

Also a HUGE thank you to Josh an Brandon, you are doing an incredibly awesome job putting this all together, witch I think is incredibly hard. 

I would be interested in knowing this technique :-) 

Reason being: the rental market in the city is incredibly stable.

Wow, it's incredible how much more there is to learn once you actually start the process… zoning, county regulations, permits, licenses, subdivision possibilities…. it's endless!