Originally posted by K.

Return of Partnership Income. http://www.irs.gov/pub/irs-pdf/f1065.pdf and include Form 8825 Rental Real Estate Income and Expenses of a Partnership or an S Corporation http://www.irs.gov/pub/irs-pdf/f8825.pdfYou will then prepare the 1065 and while doing so will prepare a Schedule K-1: Partner

., and Will Barnard (looking forward to that looong drive to OC my friend); and also my thoughtful sis K.

I would agree, K.

At the very minimum they should see if they can negotiate a waiver of deficiency for a consent judgment instead of just walking away.

Rent bumps are not as strong but you also have all expenses paid by the corporate tenant so that 2 to 3% per year bump is not offset by growing expenses and maintenance costs.Water goes up, taxes skyrocket, land or building has issues the corporate tenant eats all the costs and you still get a passive return.I do agree that for people with limited funds houses are a starting point because they have more time than anything else.The clients I deal with typically have a few hundred k to into the millions and they do not want intensive job or headache type investments.

K.

Rob K, thanks for all the info, yeah I'm going to keep it.

I believe i could recieve % 100 of finances up to around a hundred k.

All units were 6 months and now month to month.Here are the numbers I came up with have not yet recieved Schedule E or Rent Roll:Potential Income : 26,400 - (8% vacancy 2112) = 24288 (using current rents)Expenses: Tax 1309 (verified at asessor), Insurance 1819 (today's quote), Water 2880, Trash 1200, Lawn and Grounds 500, Repairs/Maintenance (assumed 10%) TOTAL: 9148NOI: 15140If I use VA the loan will cost me 1% for VA funding fee, and about 3K to close so I will assume 10 K to be safe.If he will take 220000 for it, loan will cost me 12,449/year leaving 2,691 in cash flow.CoC Yield: 2691/8000 =34% CAP Rate: 7%What else do I need to consider?