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.

Are you just throwing an offer to the owner?

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%~~).

. $200,000 in equity in all these houses I don't know the FMV of these units or how much rent they're throwing off, but I can tell you this: That isn't jack for equity!

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?

not trying to bust your bubble, but I just wanted to throw some thoughts out there that you should think of.

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?

I've seen numerous examples where various folks try to make a bad deal look better by throwing in long term appreciation.