There's some pretty good reviews of it the book forum.Its inspired me to create website based on their budgeting system.

Enjoy quilting, entertaining, gardening, and hauling kids to all their activities.Hope I can add to these forums....

sounds like an ordinary lunch that you would take personally and is not deductible.If you had other persons with you and you were discussing business and picked up the tab, then yes it falls under the 50% meals/entertainment category.If you stop by to grab lunch while you are running errands for your business just the same as you would go out and grab lunch while you are working behind your desk, then it does not qualify.The IRS would disallow it.

Doing the actual work (on schedule/budget) shouldn't be a problem, since I'm a contractor - and I have a lot of resources in that area.My biggest concern is the re-sale.

Please chime in if I need to tweak it.This 2bd, 1.75 bath, 1389 sf house is a Foreclosure on the market at: $203,900I guessed a lower ARV for market cushioning $250,000 (but similars are comping at $300K+)The house could use$6000 Kitchen $4000 Dual Pane Windows$1000 Bathroom suites $1000 New Front Porch$1800 New paint in and out$1500 Landscaping$1700 Carpeting $500 Wood Flooring$16,500 TotalSo 250K * 65% = $162,500 - $16,500 (repairs ) = $146,000 Max Price (because I'm on a budget)250K * 70% = $175,000 - $16,500 (repairs) = $158,500 Max PriceI figure I should start at the bottom and negotiate up to the 70% figure.

I'm going to plug them into my budget and see what happens. :).

I did a similar thing by purchasing a SFH and renting out the spare rooms.Be sure to live under your means and set a budget to save $ for the next deal.

Just buy the property now and deal with the encroachment later" however I would, at minimum, have a plan in place and a budget depending on what the turn of events are.Good fences make good neighbors.

He brings no cash to the table.He also will hire a general laborer to help him for $10/hour and want's that to come out of the total rehab budget.

Don't go blowing wads of cash on entertainment or increase your cost of living.