@Jacob Hafer, in most cases its a sunk cost and some landlords nefariously even use the application fee as an additional income stream.

I do have to pay taxes on the income, but some of that I can offset with expenses from other rental properties. 2.

@Gavin JexSo you want a bank loan and then seller finance as wellA bank would not be in second position so they as the owner / lender would be in second.Also 0% they would still be responsible for taxes on that at AFR so if your payment is $300/mo the loan would go off federal rates so they would essentially have to claim around $5k in interest income which would be ordinary income so they may end up paying all of your payment in taxes… just fyi if they did speak with someone on thisSounds like a steal if deal for you

One thing to note is by paying it down, it can hurt liquidity so if that is an issue, keeping it in a bank account would be a better bet, but if liquidity not an issue, then I agree 100%

If cash flow is your top priority, Cleveland's reliable rents and predictable income could be a strong contender.

Account ClosedThanks so much for sharing, lead source is so critical and it seems to be where the most pain is felt early on. 

Will reach out to my accountant. 

Looks I have to report net income on SE Line 24 ($2k), but on Line 25, I cannot claim losses due to higher income (>$150K).

I'm a rookie investor from NYC who just signed up for Pro membership.I'm looking for someone who can be a study buddy and meet-up info in NYC.A little bit about me:- CPA (not specialized in tax ;p), no professional advice but can help with basic accounting and finance knowledge sharing.- Have been listening to Real Estate Rookie (almost a year) podcast and On the Market (a couple of weeks).- Finished reading "Real Estate Rookie" book by Ashley.- Looking for out-of-state investments, currently looking into Philly.If anything clicks you, feel free to contact me.Thank you!

Madrid have become the number one City in terms of income and investors since for the last 25 years investor friendly goverments in the region had atracted the bigger companies of the world to invest in the city.