That would be defeating the ability for him to offset taxes and proceeds into a 1031 as he would have have realized the sale proceeds and consequences of the sale, but not the actual proceeds this year, but rather 3 years down the road.

However, when I came to submit my application without plans I was turned around and sent to get 6 copies of the plans on the "by right" unit count increase.

Default rates I like to look at - which also have continued to go down but I believe at last count there were still $400B in defaulted mortgages out there.

Rental income can be counted at 75% of lease agreement if too soon to be reflected on tax returns. 30 year fixed shouldn’t be a problem.

Don't know what kind of junk laminate you're talking about, but the laminate counters we've installed lasted over 15 years (and counting). 

A lot of their jobs are insurance work which drives up prices as well.From 2005 to 2014 you could count all the houses built on your fingers, so a lot of the trade labor moved away or switched to other occupations.

So buying power has decreased significantly for this program, but the 5% down is still available.FHA is still a strong tool especially if underwriters would start to count non-conforming units into the total unit count. 

The property breaks even with the first mortgage, and I used the funds from the 2nd for other investments, so can't count that against this property.I think break-even would be about two years.  

From what I've seen most new agents are told they need to get business from cold calling and ads (I'm not knocking ads, or even cold calling, but the majority of agents in actual real life are not going to cold call no matter what - count me in that group), and at the same time they don't focus nearly enough on cultivating the sales and referrals that can come from their sphere - people who already know, like and trust you, or would if they had a chance to get to know you and your level of expertise a bit better.If this helps at all, I started out with virtually no sphere (I knew 12 people in my working area when I started in real estate) and also virtually no knowledge of actual real estate.

I can count on one hand how many of the 220 plus homes I bought rehabbed and sold from 2000 to 2008 that did not use minimum down or no money down and or paid cash.now as I have morphed more into new construction and build at 250 homes in the last 6 years or so.. almost 1 in 11 o12 is being sold for cash. most are conventional..