He sold the business to someone else and I've heard they use actors as their speakers and it's a hard up-sell to attend one of their bigger, more expensive seminars where there is a hard up-sell to sign up for private coaching.All the courses I've looked into are "gurus" trying to up-sell.

Out of that $120k gross income, $50k was eaten up by expenses, leaving $70k NOI.

The answers to those questions should tell us how we need to treat the loan interest.If taxpayer just throws it in a bank account, the regs are pretty clear it is investment interest, which as you well know is itemized and limited to investment income.In a nutshell, we need to trace the cash.Treas Reg §1.163-8T(a)(3) Manner of allocationIn general, interest expense on a debt is allocated in the same manner as the debt to which such interest expense relates is allocated.

The prices here are less expensive then the east coast and your money can go further. 

After all expenses the cash flow is $850/month. 

I realize it typically is a lot more expensive to build new than to buy an older house, but I was wondering if anyone had experience building in the OKC area and could give suggestions on A) how much it typically costs per square foot, and B) if you know of good construction companies that you would recommend reaching out to.

There is an old house that I have under contract. I am exploring my next move.  My contractor told me about loans for home improvement in Cleveland. Looked it up and found the Housing Enhancemet Loan Program and Herta...

Make sure that you are accounting for all expenses.... vacancy and maintenance, and are there any landlord paid utilities?

It would be very expensive if you take over the property and more than 2 units are vacant or non preforming Even after adjusting your vacancy and adding it $3k per unit, I bet you will still have a good deal.

Whenever someone sends me a deal they have analyzed with it I immediately throw it in the trash...do they still calculate CapEx as an operating expense?!...