Depreciation, like most deferred retirement plans, postpones taxes, it doesn’t eliminate them, unless you never sell the property, or keep “exchanging it” , usually on less favorable terms and with large third party fees.

It took awhile to find good housekeeping staff and knowing there are going to be mistakes made. 

It's an interesting way to invest in real estate and supercharge your returns (30-100 percent) while eliminating most of the downside risk.  

But the tenant may have a valid reason to contest or at least delay court proceedings based on your mistakes.

This guide should exclude the profitability and 2% 50% 70% rules and should only focus on steps of buying a property once a person have done their calculations.Thanks a million in advance because this will help thousands of newbies pouring in this field to understand the process and not make mistakes and fall in traps that other professionals may have faced.- Inam

I know I will make mistakes, but I don't want to make a huge one as my first purchase.  

If an individual is approved for conventional bank financing, can I then buy a house from my own LLC for purposes of eliminating private money lender?

In my case before everything was said and done It cost me a little over $1,000.00, a mistake I will not make again.

One did not work out (praying we learned from our mistakes) and cost us more then it made us.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.