This enables you to vet the information provided by the Vendor with the Tenants and/or Service Providers (i.e. leased water heaters, HVAC, Laundry,  landscaping services, etc) to see if the views of the relationship terms align or not.

After years of reading books, articles, forums, listening to podcasts, youtube, attending seminars and webinars, I've made myself (credit score) attractive to lenders and have been approved for a first time home owner loan, FHA.I've been obsessing over my local market for over a year and now that I can actually participate in it is exciting...so much so that my judgement is periodically impaired by emotional enthusiasm, luckily however, all the previous education has enabled me to level out and think critically on the numbers and locations.The problem I face now is that all of the properties currently on the MLS are all the leftover scraps that have forever remained on the market and are terrible choices in everyway.

Hi BP,I'm trying to help my parents find a income property to invest in to supplement retirement.

Meanwhile the other tenants will be helping pay your loan (ideally partially supplementing the cost on your unit).  

You could get a Solo 401k plan that enables to invest in both RE and the stock market.

If it's a hot market, I generally would take the following approach:Offer whatever the seller is asking so you can tie it up as soon as possible, SO long as (1) the list price is within $5k of what I will close them for.... and (2) the price you offer minus $5K will be a purchase price that will enable you to achieve your target returnI know that I will negotiate the price down after inspection and most sellers are unwilling to drop the price more than $5K after inspection unless something is seriously wrong with the property. 

I have a full-time employee finding deals for me and a bunch of other sources which enabled me to complete a dozen flips and to buy 41 units so far, but like everyone else, I always want more and I want to find ways to increase volume.Thanks a bunch!

I understand from other discussions here on BP, that the IRS may have very stringent requirements for REI's claiming Professional Status to enable RE losses in excess of $25,000 per year against non passive income.One suggestion, in addition to detailed records of the over 750 hours of RE activity, is the "Election" of combining of all your RE properties into a single entity.I have not found a way to do this in Turbo Tax (no chuckles please).Does anyone have experience with this and discuss the pros and cons of such an "election."

Filing of paper tax returns will remain available after that date.IRS Modernized e-file, the system that processes electronically-filed individual returns, will shut down after Nov. 18 so the agency can perform annual maintenance and to enable the IRS to reprogram the system for the upcoming 2018 tax-filing season.As a result, any taxpayer needing to file after Nov. 18 will need to do so on paper.While most individuals have already filed their 2016 federal tax returns, certain taxpayers may qualify for an extension until Jan. 31, 2018.

I am a teacher and have two fellow educators who plan to working together to flip a house this summer to supplement our income in the short term with long plans of getting out of education sooner than later.