I'm new to the game myself, but rest assured you have found one of the best resources out there in BP!

Now the smile is only partly because the tenant paid rent a week before it is due ... the rest of the smile is because I knew this was going to happen, I just did not believe it.

The ad is worded as if you do this all the time but, the rest of the text, and your response, makes it clear this is not the case.Does the person or entity that loaned you the money to buy the property know what you did with it?

Only one property is close to the property I'm considering, the rest are in less developed areas.

My plan is once it is rented is to get a 30 year mortgage so next years interest will be partially on my HELOC, then the rest will be on the 30 year mortgege when I get it. last question are you saying I cant write off the closing cost at all?

After that, we can officially take possession of the house and start the turnover process.

If the rest of these developments don't happen as they should, its a bust.

I will base the rest of this comment with that assumption.I agree with you that if a seller is selling a home and she has not sold it yet either the price or terms are not attractive or she is not advertising the home correctly.

Especially if the rest of their application is stellar!

Being great friends with high-up officials doesn't hurt either on a project like this!..