Interest on proceeds used to buy a rental is generally deductible, interest on proceeds used to pay your individual taxes is personal in nature and non-deductible.There are specific rules on what order proceed "lots" are paid back per the interest tracing rules when mixed use is involved.I recommend speaking with your tax pro and keeping them in the loop regarding this plan.

If the dog is mild natured and this was a simple accident then I wouldn't worry about it.

So by nature there is always going to be a lot of work, generally these are older properties which require more maintenance cost to be placed in reserve.

I would like to learn more about setting up a LLC (or other legal entity) to own the investment properties and accounting/financial strategies to offset the income with the expenses... things of that nature.

I did have to come up with the Earnest Money, and pay for a home inspection and things of that nature, but costs were minimal.

I did have to come up with the Earnest Money, and pay for a home inspection and things of that nature, but costs were minimal.

He said he would not use a credit card, and wanted to use a certified check.Please share your thoughts. 

I also used WholesalersToolbox.com for a general idea of scripts and things of that nature.

That’s natural - it’s human nature.

Stephanie: naturally, a party who is putting up ALL of the cash ($625,000 in this case) would not be happy with a less than 1/5 interest of the deal.