Update/conclusion: Glad to report that in the end it was relatively painless.

Just run a different report.

I also ask for the turn key co's inspection report and compare the two.You would need to do some due diligence on the turn key company though.

@David Beard I was going to be on title so was planning on reporting this as a short-term capital gain.

Those that say go find a property and then a buyer, simply lack business experience, it doesn't matter what you sell, houses, cars, boats, T-shirts or political buttons, you must know your market, what the demand is, what that target market wants before you can consistently move that product.My suggestion is 1. get away from gurus and learn conventional, basic RE. 2.

Currently we have about $120k in W2 income to report, though at second purchase we'll likely be down to $65k.My initial thought was to get a 15 yr mortgage with 20% down for the duplex, but then was left scratching my head about coming up with money to put down for the second purchase.

Hi Shaun,I like long term private money off of credit reports, no PGs, and in land trusts for privacy so I do not own anything when lawyers check (lol)Cmon, do an asset search, I dare you!

You can also hire an agent to do a CMA report that will show going rents in the area.The properties I buy usually have tenants in them so I know exactly what they are paying.But otherwise you'd need to get comps.

They report you and then the ... hits the fan.

The man who called was asking if I wanted to do it at the grocery store in the neighborhood where I live, which is not where I market.I'll see if I can get info for the stores in neighborhoods where I market and report back.