In response, she told me the only option I have is to find someone to take over my rent for me (though the lease would still be in my name), because their policy on lease cancellation is that it's allowed only if (a) you die (b) you're so ill you have to leave school (c) drafted into military service.At the time I didn't go into the details of WHY I dropped out of my program/am leaving, because I'm not sure it constitutes a severe enough illness, plus it's just personal and I felt embarrassed discussing it with her.

It's currently renting at 1100/month, but I fIgure with extremely low rental availability and being right next to a military base, I should be able to rent for 1200/month when I incorporate my own leases in May.

AGI between $100K and $150K phase out this $25K limit by $1 for every $2 of AGI over $100K.Creating an entity won't help, and may make matters worse.

I have over 30 years experience in all phases of residential and multifamily construction and just because you have a good work ethic doesn't make you a good candidate for becoming a GC.

This is completely phased out at 150k.

But, FYI, you can make other arrangements along with a stated value, but it isn't worth the brain damage attempting to index it or involve multiple appraisals that are agreed to be averaged, the cost of doing so exceeds the value in smaller deals, such may apply where larger commercial long term leases may be involved for example, in a purchase-sale-repurchase over time, or in a completed development where the sale can be made at different phases.

You can back out because it's your right during your 'due-diligence' phase of inspecting.

Hate to throw leads away however at the same time I want to be patient and make sure not to just jump at deals to be doing deals.Most of the ones I am considering are single family or duplexes, all ARV'd out at around 100k, rents in the 850-900 range or for the duplexes 1200 total.Just pushing for that first deal to get me over the proverbial starting out phase.

I moved into the most desirable area in terms of school, convinience and work.In my second military small town, all u need to know is a street name and if house looks great u know if its in good/bad mkt.Now I'm in pittsburgh suburbs.

It is a military town that has an influx of activity during the summer when the military generally PCS's everyone and then the rest of the year which is steady but not over powering.