They can all work at different times, imo.Good luck finding your own method.Rich Awesome insight Rich,This is the same track I've been researching, thanks for the post to reiterate that there are others other there  on this same path:- the balance between cash flow, tax shield from depreciation, and projections to figure out how to net "0," on paper or as close to it as possible- building up the passive activity loss bucket in anticipation of properties or other income producing activities that have income that exceed expenses and depreciation so I can keep the net "0," balance for tax shield purposes- use of entities, revocable and non revocable trusts, and Life insurance to exit life with no estate tax, fund trusts with perpetual income and asset growth by auto/default design to perpetuate indefinitely into future generations

I saw a video on here where the dad was reading a book about his rehab to his children.I think it would be fun to have some books that talk about rehab and other real estate concepts,  with more advice and instruction to young adults.My granddaughter loves Bob the Builder and has "helped" me on a few house projects. mostly spackling and painting, (she is 4 lol)I think a pop up book with before and after pics of houses, a tape measure that can be pulled out to measure stuff, a piece of pretend sand paper to "sand" a rough spackling job ect. 

Use paper and pencil.

Completely opposite of having a rental, in that you are not bothered by toilets, termites, or tenants.

The back story , I get a call on Sat , while I am on a Ski trip with my 2 boys , from a tenant , the toilet is clogged and they looked at the rear cleanout and it was full .

I know it always looks better on paper so we will see in 12-13 months where the numbers actual fall.Purchase Price: $85,000Down Payment: 17,000Estimated closing costs after credit: $1,100ishTotal Cash Out of Pocket: $18,100ishMortgage Payment: $365Rent: $948Gross Rent: $11,376Estimated Expenses:Property Tax: $486Insurance: $675Property Management: $910Vacancy: $910 (8%)Maintenance: $910 (8%)NOI- $7,484Cash Flow: $258.66Cap Rate- 9%COC Return: 17%Again, follow along as this newbie enters the world of REI.If you comment, please make it constructive.

I recommend you stay off the calculators until you understand the basic math using pencil and paper.  

If nobody else is inhabiting the place during the first year except me doing the repairs, is it in alignment with the rules if I complete whatever paperwork is necessary to make the HUD house my primary residence on paper (although I won't be officially living there because the repairs aren't done)? 

In the past I have seen some older homes where the toilet is set to the low side of the stairs and the sink to the back near the high side of the stairs with a door to the half bath coming out perpendicular to the stairs.

Update: The couple came yesterday to see the house husband loved it she made an offer of exactly what we wanted on the spot we negotiated a little on closing agreed that we would pay 1000$ and they would pay the rest out of pocket we are supposed to sign papers today do you think we could just walk in to a title company and they could do everything we need to get this deal closed ?