Hello,I recently closed on a BFD deal and looking for direction on correctly setting up journal entries, to make it easy at tax time.In a nutshell...We hold a mortgage on the property with a principal of $150k, 4.25%, 30yr amort (liability)The BFD sale price was $300k, with a $45 downpayment, $255k financed at 5.5%, 25yr amort, 3yr balloon (asset).All transactions are run through an escrow agent, and we just collect the net difference monthly (~$325 or so).   

Now I see lot of people ( many on youtube) are suggesting that housing market is progressing towards a recession/ correction/crash and prices are going to fall soon.

Watch how the FED always mentions Housing Prices, etc. 

It is to prepare you for the inevitable and create a Defensive position.It is calculated using Rent.Example: $1,000/month rent - set aside $50/month for CAPEX, $50/Maintenance & Repairs, and $50 for Vacancy.

Familiarize yourself with the Fair Housing Act, which prohibits discrimination against people with disabilities, including those recovering from substance abuse.

I have a house in TX that I own subject to.

I quickly learned to ask my sellers to leave a few minor things for inspectors to find as it drives me crazy that most will nit-pick a house apart if it’s in great shape and they can’t find much to report.

The VA sets minimum credit standards for loans, not the individual lenders.  

In my opinion housing pressure in Dutchess, Putnam, Orange, and Ulster county you will continue to see price increases in the long run ( value ).

Rookie investor here looking to purchase and house hack my first property in the Charlotte, NC market.