I use to invest real estate on a full time basis but decided to scale things down a little after working too hard.

The Credit Doc, LLC operates on a non-profit basis.

It's one to reread on a regular basis :wowie:

It is a 4 unit appraised at 105k, purchase price is $80k. 3 out of the 4 units are currently rented at $400 a month on a month to month basis.

I can stay on the golf course every day if I dont' see something that meets my profit standards.

The $200K house rents for $1600/monthThe $100K houses rent for $900/month, eachThe $50K houses rent for $600/month, eachOn a stritly cash on cash basis the $50K are the better deal, better cash flow, when a tenant moves out you only have 25% vacancy instead of 50% or 100%.

So if you're wanting to become a millionaire via REI, and you're just getting started then the most important thing you can possibly do is start to tell yourself everyday over and over again that you are infact a "Millionaire Real Estate Investor".

Under-calculating your expenses is as dangerous as purchasing on the basis of speculative on price appreciation.

As you can see, I have no idea how to determine my new basis going forward.

Alternatively though, we could say that if we split my costs between the units (a cost "basis" per unit) then I have made a profit so I owe tax.I think the latter of the above is correct, but I wanted to check to make sure because if its the former then that would be great.