But having that extra cash to take care of those three items you mentioned would be a huge weight off of you and set you up better for future success.

But ideally you'd want one who already has some RI clients with real estate, as RI has become a lot more tax-unfriendly to investors in the past few years.For example, they eliminated itemized deductions in 2011 (http://www.investmentnews.com/article/20110327/REG/303279975) and also started treating capital gains as ordinary income around the same period (http://voices.yahoo.com/elimination-preferential-tax-treatment-capital-6915746.html).That said, one of my more experienced real estate friends in RI seems to be having great luck with someone out of Ohio.

Usually a basic package will be provided and if the buyer asks for anything else the seller and listing broker will request additional proof of funds first and if some finance other lender items showing if they engage the buyer they are ready to do a deal.

At rent levels around $500/unit you would be better off having an on-site PM that can handle leasing and small maintenance items (at 70-100 units).

There are too many tenous items out there to affect RE.

You'll read about the "50% rule", which says all expenses, vacancy, and capital items will average out to about 50% of the gross scheduled rents.

CPI is not including food and energy, two items that everyone has to pay, and it is a much larger part of poor people's budget and rich people.

Hi, asking for picture ID is customary, it sounds to me like the passport is one item that you can use, not that it is required.

Since the land is the most valuable item, I would ask the seller for 30 days with $10 or $100 of consideration to market the property and get as many builders to see the property and find out what they are willing to pay for the property.

They then have to be depreciated over the proper period, which depends on the type of item.