I'm assuming you haven't actually seen or heard the tenant do any of the things her neighbors are saying the tenant did?  

And let's say that in the other 15 sessions, you lose $50K total.A logical person would assume that you can claim $0 in gambling winnings over the course of the year.

Last year for example I had 20 different W2's and 2-1099's and I assume he will be in a similar situation this coming year as he just left a long term employment position for the greener fields of freelance.

I assume another 300 a month in taxes and insurance.865x12 without calculating property depreciating over time / 70 000 = 15%So about low 10s if you throw in repairs and depreciation over time.If you buy this thing for 50 000, your return will be even better.

Since the language for the 1031 exchange specifies that you must exchange "Like" properties-business property for business property and rental property for rental property and farm property for farm property-are you assuming that a personal residence held to increase in value has now converted to a rental, but not a business property or other property?

Assuming it is the escrow and is 30 years and you could pay off your send mortgage, and again assuming it is still worth what you paid, you could get a new 30 year mortgage of around $196,500 and shave about $400 off your current payment based on today's rates.

Hey Scott, I don't specifically know the Seattle market but will assume like most metro areas it will be similar to where I live in San Diego.Most major metros like that you will not be able to effectively cash flow.

I assume by this: "foreclosure estimates was about 60,000" you mean the house is worth $60K.

One of the properties I ran cashflows on seems initially attractive -- 12.6% cap rate (and 28.9% CCR assuming 75 LTV / 30yr fixed rate loan / 6.0% interest, 50% expense ratio, and assumed rent 12% below rentometer.com's median rent for the area in which the fourplex is located (monthly assumed rent is 2.11% of purchase price)).Though my projected return ratios are attractive (12.6% and 28.9%) on this property, I'm not sure if the magnitude of the return is large enough.

As a starting point for screening absentee owners, I suggest these parameters:- 40% equity or more- at least 7 years ownership- 3-5 bedrooms (I'm assuming you're looking for SFH)- Not corporate or trustee owned A cool feature from Listsource is the ability to find properties based on geography.