First you must remember that the 50% rule is only a screening tool/guide to do a "quick peak" analysis of a property's performance.

Other problems seen were the master bath tub caulk needs repaired/replaced, (and will be), a window screen is out of a bedroom, and a couple of closet door guides need replaced.

https://www.irs.gov/businesses/cost-segregation-audit-techniques-guide-chapter-1-introduction

This is a great resource for those looking or already involved in REI.

everytime one recommends these books..it sounds like a SLAM :joker: buthttp://www.amazon.com/Complete-Idiots-Guide-Estate-Investing/dp/0028639766I read Idiots guide and for Dummies on all Kinds of subjects..they are really well written.

Hello, I would suggest first reading the portion of Bigger Pockets on the left isde of the home page called "Foreclosure Resources".

This should help you, Josephine:http://www.biggerpockets.com/abbrev.htmlYou'll find all the abbreviations you need.Make sure you check out all the links on the left of the page, as there is a ton of useful info, articles, and resources to help you out!

Please do tell us some more about your interest in real estate investing, and perhaps we can try to guide you down a clear path to success.Good luck!

Frankly, with your experience, I'm sure that you'd be helpful to many of our members as well.I hope that you find our site to be a useful resource and please let us know how we can be of help to you.See you around BiggerPockets!

My NJ Landlord Guide only addresses service animals which are not considered pets.Thanks!