5.30 years or older – inspect electrical, plumbing & heating closely, professional home inspection is a must!

The elasticity, color and protection are still in place with absolutely no chalking, cracking or deterioration of any kind, The same goes for interior paint as well.

The result, for tax purposes, is a rental loss of $788.The tax rules on rental losses are different if you're a real estate professional.

If there was a 7% cap rate on the $5,000,000 sample property, it would cash flow $350,000 annually.2) Do you think you would enjoy having professional tenants with long term leases?

If you don't plan to make a career as a real estate professional, getting a license is probably one of the biggest liabilities a real estate investor can have.

He worked with 3 people until someone was actually professional.

I am very selective about whom I work for and with…I believe in being professional at all times….. including on the internet.

Each must establish the fee it will charge for professional services rendered to clients.

Then they go out and find a house that they really can't afford yet and they get into trouble trying to pay for the loan.My advice for newbies:-Do your homework (get to know the markets you want to buy in; know what you want to buy and why)-Put a good team of professionals together to work with-Straighten out your finances and get your financing pre-approved before you buy.

This special exemption is limited to non-real estate professionals and persons with less than ~$125K income.