(Worth $1.4M after rehab).The relative/seller only wants $900k and I could buy for the 1.175M and he would give me the overage of $275k back but that would trigger for him another $275k in income that he would have to pay taxes on.Are there any creative ways I can solve this? 

As Sam Zell put it, "All the opportunity in the world means nothing if you don't pull the trigger".Another big part of my strategy is essentially the BRRRR method applied to commercial property. 

My biggest win was not being too scared (or just being too young and dumb) of any risks and just pulling the trigger. 

@Scott Anderson... we just pulled the trigger on our first home and plan to do just this!

The $70k is not income because you haven't sold the property and triggered capital gains, The rehab depends on what you did, some of it is likely going to go in the depreciation column and be expensed over time, the rest is an immediate expense, talk to your accountant for more clarity on which is which.

I love that it automatically assesses late fees that trigger on the date of your choosing if tenants don’t pay on time.

I'm curious if you pulled the trigger on any properties and if so, what your experience was.

, and I'm hoping that market knowledge will help me once I'm able to actually pull the trigger on this whole thing. 

@darylluc I agree I don't want to trigger any taxable event.

I'm working to reconcile real-world advice with the text books.Here's the balancing act: don't take too long to pull the trigger on my first property, but go into that first deal armed with knowledge and education.Keep the advice a-comin'!