Account Closed Thanks a lot for your input...Yes, why not do both.

Please check with your Tax Accountant!

Has anybody found a great app or website to track their rentals (accounting) using an IPad?  

Hi Gideon,If you wish to minimise your FX risk while you look for properties one option is a bank that offers foreign currency accounts.

Hi Thomas, in MA the landlord is required to hold both the security and last months rent in an interest-bearing account.

Are you taking 10%+ annual rate of appreciation into account?

It's not a simple manner of moving money from one account to another.

Offer to pay for his entity creation and a review of his taxes by an accountant instead of Turbo Tax that he must be using, because I'm unaware of any scenario where it makes sense to avoid making money due to fear of taxes - in exchange for granting you the lease option and covering those expenses could be your option fee.Rral Estate is a tax shelter...

I would ask for a rent roll, tax returns or financial statements and hand those to your accountant, and if you don't have one get one, if you want to be an investor.

Step 1: Get a job earning X amount of moneyStep 2: Get a second PT job earning Y amount of moneyStep 3: Get a third PT job earning Z amount of moneyStep 4: Wake up earlier daily, grind as many hours as you can, go to bed, repeat...Step 5: Figure out how to live off W (less then you earn)Step 6: Open a savings account and put your savings into it (X+Y+Z)-W= S (Savings)Step 7: Listen to positive people daily who are motivating.