The place will be sold by the time I go to buy another property adn the rest of them cash flow very well. ( by bank standards one makes 1480 after rent8.75-PITI, another about 800 after the same, I know that's not the real cashflow but for qualifying it will be bonus to my DTI) should I not show the loss on my taxes and just eat it (since I don't want to risk not getting a loan if it hurts my DTI) or will it not matter to the bank since it is sold and was sitting empty since I am looking for a retail OO buyer.

I agree now that a college degree is seen as necessary.Back when I graduated high school in 1993 a college degree still had value more than just being seen as what a high school diploma used to be.The problem I see is where many get degrees in things that rack up student debt but pay little to no money as a specialist degree.Other times they get a general business degree.They do this to be versatile.I think it hurts most job applicants as yes they can apply for many generalist jobs but so can a bunch of other people with the same vanilla degree.I believe if you are going to go this route at least get your Masters degree.That extra schooling will put you ahead of many applying for a job.You will earn more over your lifetime and statistically get promoted faster.If you want to be special and make an extraordinary life for yourself you have to avoid the herd mentality and stand out.So I say don't go to college for the sake of college.I know people with degrees that just can't get a job so they work retail as a manager making a crappy 12 bucks an hour.They go to apply for a job for their degree and surprise there is 50 other applicants many who have ten years experience where their company went out of business.Now you have over qualified applicants that employers can land at entry level wages and the students with degrees can't get a foot in the door.If a student can get free tuition they don't have to pay back with student loans or their parents have a fund to pay it for them then great have at it.If the student is going to simply rack up tens of thousands even over 100k of debt and then hit the world making 15 bucks an hour they will be in a world of hurt.Especially since you can't get rid of the student debt in BK.In the old days you worked for a company and gave them your heart and soul and in return they took care of you in retirement.These days people change jobs on average every 5 years and about 80% of the work force hates their job and does it out of necessity.I wouldn't call that a quality way of living.

Buy and retail?

Your typical title company is going to deal with retail properties, realtors, mortgage companies.

In my retail practice, I kinda enjoy it when I show homes being offerred by another flipper.

If you pay cash for a non performing multi family note with the intention of selling it to a retail financed buyer you will have your cash tied up for at least a year while you manage the property and create solid historical figures, right?

A property management company IS worth it.You are focusing on the wrong costs.Damage from a professional tenant,free rent before eviction,pit bulls,etc.The house being 2005 if you sell in 3 years it will be going on 10 years old.Your fixtures will likely need replacing and updating by then to get a retail price or buyers will pay fixer upper pricing only.Your roof and mechanicals will be at 10 years old as well and some will be reaching the end of life expectancy.You need to project how much under water you are today and what year you anticipate a break even or close to break even scenario with closing costs and commissions involved and repairs needed to get to a retail level.Remember again that a RENTAL READY property and a RETAIL FOR SALE property are 2 very different things.Leave things old for now and only update when you are ready to sell.

I buy material direct from the manufacturer, so its probably 50% chapter than retail, but even at retail, it's a lot less expensive than tile for me.Here's an example:http://123flip.com/wp-content/uploads/Trifecta_House/Staging/3.jpg

Ryan Webber in a previous thread called this kind of selling, where the wholesaler sells retail to the the highest paying investor, as opposed to his regular rehab buyers, the "dark side".

I was buying at the trustee sale but the prices are getting to be at retail levels now and that inventory is way down.