On Robert Kiyosaki's Cashflow game we would always ask when it was someone's turn to pick a card: "Small deal or big deal?"

But that's for another blog.Thus it's important to run numbers conservatively with built in saftey for when the people move into the brand new A-class buildings increasing our "old" asetts' vacancy for a while only to pick up all the A-class peeps again, once they realize they can't afford those rents anymore, which will in turn have an effect on all rents. 

Have the terms written in your purchase agreement in simple words you and your seller can understand and then title/Escrow will write up the Note/deed in legal language and you both sign off on it.

To make it simple, let's say I own 50% and 2 others own 25% each. 

Will the remaining shareholders be treated as a minority owner of building or just simple as another pool of tenants?

Simple!

Simple build - it is a 2 piece modular house with a concrete foundation, roof only 5 years old. 

Thank you Ron.With the other input, and listening to the interview on BP with the lawyer in Illinois (which seems to have similar laws to MA), I tore up my plans and decided to get as simple as possible.  

We were able to pick this project up off the MLS, Tucson is a competitive market, being able to act quickly and efficiently is the difference between doing the deal and missing out on the opportunity.

Doesn’t look like I can pick and choose.My interpretation is either I fully deduct the points paid this year against zero income orI prorate over the life of the loan.See https://www.irs.gov/taxtopics/tc504