Bedrooms and bathroom upstairs, and living room, dining room, kitchen and laundry on first floor, and access to basement.Building needs some repair since its old, but being that its fully rented I assume there aren't any major problems or it would not have passed inspection.Mortgage on it was taken out for 118k back in Dec. 2011.City taxes are $7273 annually and school taxes are $5510 annually.For the attached building:a mortgage was taken out for $27700 back in April 2010.City taxes are $3602 annually and school taxes are $3322 annually.So I was thinking of buying both to have 6 units and a commercial space to rent out for a convenience store or something of the sort.

If your company has a long history of flipping, the IRS will assume all properties acquired have the intent of flipping.

I just moved in about a month ago  - I went to school in Philly.

I graduated high school in Sandpoint and have family in your area.  

@Toby CoonsHey congrats on the job right out of school!

Don't see this happening with any institutional loan.Things like portfolio lenders tend to be good in that they will look at the deal and the actual numbers and history of the borrower rather than have their head jammed up Fannie's a$$.However you probably have to put down as much, or likely MORE than with a conventional loan.  

I just recently enrolled myself into a RE school to acquire my real estate license before starting back up in the fall.

Make sure you visit the "learn" tab and get as much information as you can while still in school!

Throughout my Law School experience I have learned that I HATE when someone "hides the ball" and I have to discover what their message truly is. 

It is a small town, tight knit community, but I went to school in this town and I think that will be to my advantage.