Here's what it looks like:Purchase price = $300kRental income = 4 x 1bd/1ba @ $500 , 2 x 2bd/1ba @ $650 = $3300, seller thinks  1bd's can go up to $700 and market research supports that Taxes = $200/monthEstimated expenses = 1300/month (10% each for vacancy, CAPEX, and repairs and $200/month for insurance)NOI = $23k at lower rents, $33k at higher rentsCash flow = $500 at lower rents, $1300 at high rentsThe property is in a C neighborhood that is gentrifying.

However, you should read the rules to see what is required or speak with an attorney.

To have a site like bigger pockets and so much support from people like you is absolutely amazing!

Thank you so much for your kind words and support!

My real estate agent assured me that the comps looked good and that there was even a couple other houses that was pending and would support the ARV even more, by the time we closed.

I've heard the 1% rule, going after multi-family units etc.

Yes, this charge can be expensed (to my knowledge) under professional fees.Lastly, your $2,500 question refers to the expensing of items under the de minimus safe harbor rules.

If you love real estate and are full time you should get your license, support your friends and family to invest as well, and buy as much real estate as you can.

I'm going to buy a pickup for my LLC, and I know that with the new tax rules that if it is over 6,000 lbs GVWR I can write it off 100% the first year.

I suffer from anxiety and one day before closing they found that my brother owed 20,000 in child support and a lein was on the house.