Then finally I moved into just one room and the kitchen and we deducted about 1/15 from the business return.

But there's nothing like hands-on experience.I finally bought my first property this summer, in Texas. 

Investors don't paint every wall, lay every tile, or hammer all the nails.

@Cesar Egas If you don't want them in the house at closing do a final walkthrough the morning of closing.

I'm currently trying to get all my ducks in a row before nailing down a deal.

The debt coverage ratio is around 1.3-1.5 depending on the final purchase price.

I don't know how small claims works in TX, but when I had to chase a deadbeat for unpaid commission in Mass, he kept failing to show for hearings.I was finally able to present my case and evidence to the Magistrate who said I could have both a capias (civil arrest, where the defendant is forcibly brought to court) and an execution (sheriff or constable can seize assets and sell them to satisfy the judgement).What finally got me paid was when I gave him a hard deadline and told him that if I wasn't paid in full by X date at Y time, I was going to have his WIFE (also a named defendant) civilly arrested at work.As you might suspect, that got the deadbeat moving very quickly and yes, I was paid in full.

We provide before video (what they looked like at the time of acquisition), repair scope, rental quotes, ARV (After repaired) we provide the construction crews that did the work, the scope of work, who the lender and appraiser were that did the appraisal/lending, and the final appraised value.Honestly we have so many people that have done it, it is never ending. 

Finally, remember that some of even the best investors have gotten stuck in dead-end deals early in their career (and went under from there) so do not get too discouraged if things are rough at first.

Like any Alaskan, toys are a must and finally there's room with an oversized two car garage and a large combination storage shed and greenhouse.While the investment wasn't perfect pricing, it was perfect timing for us to quickly move before the school year.