Of course its more complex than this, so you and your CPA will need to sort out the details item by item.

So while i thank you for your intentions im going to ignore your advice and do something worthwhile.

If you've been trying for a while, it may be worthwhile to jump the offer up if it still makes sense to your bottom line.

Yea here's one of my rental numbers, which was bought last June.Purchase:26,000rehab:5,000Taxes:1500/yearInsurance:500/yearrented:908/month section 8 tenant build:1986Sqft:1260The rehab was give or take around $5,000 but this is because for Section 8 the inspection is very detailed and had to make some fixes to get it to government standards.

It's probably worth while sitting down with a designer of some sorts that can look at what's existing.

Either way, look for one who will really look into the details and look for any potential future or hidden problems (i.e. the stuff I look for when evaluating houses).

When I couldn't find any good discussions on here about it, I figured it wasn't very promising.Albert, could you keep us posted on how those work out, and maybe follow up with some details, rates, costs, etc.

I think the wisdom and practicality at biggerpockets will help me define the best way to go forward- not to mention the questions and details that come up when executing the plan.

McKellar Newsom If the person is Canadian here are some banks:Harris bank (bank of montreal) will deal with loans 50% of purchase price but they will want to have a relationship with the buyer firstRBC Centura (RBC canada) not as picky to having a pre-existing relationship with clients and will do up to 70% of loan to valueWashington Federal- minimum investment $50,000 to $700,000 up to %65 of Loan to ValueTD Canada trust-not sure the details but I know some investors have used them.

It was paid into "your account" with the PM company.This is how it SHOULD be reported; however, not all small PM companies realize this and will not provide you with a detailed statement.