@Mark Ashton Publication 523 - Eligibility Step 4—Look-Back Determine whether you meet the look-back requirement.If you didn't sell another home during the 2-year period before the date of sale (or, if you did sell another home during this period, but didn't take an exclusion of the gain earned from it), you meet the look-back requirement.

Hello all, its time for the next step on the home repairs.

In my area I wouldn't buy a 1947 house with a basement water problem.I understand there may be other factors that may make this a good deal though for you.Obviously there are things you could do, such as ensure gutters are unclogged and draining away, or dig up all around the house and sand blast the outer walls and coat them and install gravel all along the exterior walls, or put in an exterior sump, or have trenches cut all around the basement perimeter inside the house to collect water and then pump it out, or you could even toss away some $ by painting the basement walls and floors with special thick paint, but why make any of those steps your problem?

So what would be the steps to take?

Your start should be transient houses that are a step up from foreclosures - homes that don't need a whole lot of rehab, but enough to make $. 

I have been a woodworker for the better part of a decade but have been casually dating with the idea of a fix and flip, along with a buy and hold lifestyle.I love the whole ideology behind real estate, but I have always held an "over analyse before jumping in" mentality and catch myself dragging my feet some days to try to progress to the next step (rather, the actual first step which is to buy a property) and get that analysis paralysis.

The first step for me was making the decision and sticking with it, trying to find all the info I could to make me and my team successful.

Ive been educating myself daily and taking steps to launch my business but I love to get multiple opinions and/or facts about the industry.

Then, the next step, is to assess the impact on the tenant breaking the lease - not for the lender but for you. 

The 1st step is for you to isolate the Property Management charges.