I am trying to use the rental property calculator and each time I go back to edit it, it uses up one of my fee trials  whats up with that should I be doing something different.  

My understanding is I can deduct $25K from my AGI, which brings my taxable income down to $75K in 2012.

I understand the basic calculation of cap rate and COC.  

The paperwork is not that different from normally held real estate and the only taxable event would be if you financed the property and then sold it at a profit.

@John Cohen I will definitely calculate IRR when it's time to exchange.

Have you run the numbers through the BP calculator?

You can also have your agent do a comparative market analysis for the area around the subject property and also pull lease information from the MLS.Have you used the Rental Properties Calculator here on Bigger Pockets to determine if this is a good deal?

Have you utilized the BP Calculators to assess your rental business?

How are you calculating your cash flow rat of return?  

By knowing that information ahead of time, they could make a calculated purchase based on Risk vs Reward.