I also bought every one of those properties at a BIG (huge) discount, making the LTV very low and the bank's security very high.

When purchasing a multi family.....what happens to the security deposits that they paid the previous owner?

In the future, when I am able to get a more secure and steady internet connection, I think I am going with VOIP.

Locking the rent in at a rate somewhat below market could somewhat lower the value of the building in the coming years (since the rates could be below market), but if we could maintain even a 9% cap rate (i.e. let them rent at 10% less than they are paying now) I can't imagine having trouble securing financing.I mean 9% cap on a AA secured property for 7 yrs gauranteed would be amazing.

If have Dealer staus acording tothe IRS even if you hold a property longer than one year you still pay ordinary income on it and all your gains are subject to self empoyment taxes (ie: Social security @15%~~).

Any time I've ever done construction, I just got a contruction loan and the bank accepted my ownership of the land in lieu of a down payment.The bank wants security and the clear title to the land quarantees that there is equity in the project.

Do I just keep the security deposit?

If a tenant moves out of a property after his lease was completed and the landlord refused to return the full security deposit due to "dusting and cleaning of the apartment" is it possible for the tenant to file a mechanics lein on the property for the remainder of deposit?

Hello,Does anyone have a recommendation of software or of a service that they use to evaluate the ARV of real estate?

I am not a contractor myself, but as a former developer of software systems the systems of a house are quite simple by comparison.