Another thing to note is houses that are in foreclosure are not typically in good enough condition to meet an FHA loans qualifications.

University students nearby were hot on the market, and I couldn't turn down the rents I could get.

If you are using the 1% rule, then it seems this property meets that.

We showed up with strong numbers at the council meeting yesterday and the council voted down any cap or owner occupant requirements. 

-you can write off the cost of improvements to the units in which you do not occupy NOT Occupied Rental Property- Improvement can never be written off unless it meets some safe harbors( such as less than 2500).

@Alex Franks sure. would that be before or after we meet for lunch saturday?

A handy guy did some heat and hot water maintenance in a triplex property for me.

To all you Colorado Springs short-term rental owners and those considering an investment, here's an update from last night's city council meeting about the short-term rental ordinance.It's good news. 

These systems allow the homeowner to have the thermostat set 10 degrees higher than a traditional ac and have it feel the same temp, without drafts, hot or cold spots and large duct openings. 

Thanks to the many folks that made it out to the Council meeting Tuesday night to raise their concerns.