Property tax: Your $31/month is an annual amount of $372, which is 0.2% of the purchase price.

The deceased passed in 2017 and probate has been open ever since with extensions filed and the court has notified them to file and both POA's have missed the deadline but an annual for each year was filed to bring things current.

If you are serious about getting educated in investing in real estate, not just working in real estate (wholesaling is not investing, but it is a great way to make some cash, which you can then invest), then I'd suggest REIN's annual event next weekend.

My rule states that if an STR property generates annual rental revenue of 15% of your purchase price, it’s worth considering.Eg, a $300k house that earns $45k in gross annual rental revenue is typically something worth looking into.

In general, a reasonable rental cabin/chalet should be able to annually gross about 20% of its purchase price.Be sure to read up on business requirements of the area.

SqFt 1716 Rental $ 110,000 PP Loan Amount $ $ 137,600 $ - Closing Costs 0% Annual Interest Rate 4.5% $ 25,000 Rehab Life Loan (in years) 30 $ 135,000 Total Cost Number of Payments per Year 12 Hard Money Total Number of Payments 360 $ 95,400 Hard Money Payment per Period $697.20 $ 25,000 Escrow Taxes $3,181.00 $ 120,400 Total Loan 70% Cash Left In Home $ 10,478.30 Income $ 14,600 Balance of Sale Rent $ 1,400 $ 2,950 Points 2.45% Costs $ 5,087 APR (6 MTHS) 8.45% Taxes $ 265 $ 848 Interest Pmts HOA $ 18 $ 3,300 Closing Costs 3% Insurance $ 55 $ 20,850 Cash at close Vacancy $ 112 8.0% $ 11,337 Cost of Loan CapEx $ 42 3.0% $ 2,701 Holding Costs Repairs $ 42 3.0% Refinance Management $ 28 2.0% $ 172,000 ARV 100.2 Total $ 562 $ 137,600 LTV 80% $ 4,128 Closing costs 3% Cash Flow $ 141 $ 253 $ (10,478) Cash left in deal 10% NOI $ 1,688.61 1.2% 50% Rule Cash on Cash 16.12% Estimate Repairs Details Equity 25.0% Flooring 6200 Paint 3200 2 Bath 2000 Kitchen 3200 Foundation 8000 22600

But another consideration is any potential property tax increase...Expand if you need the space, but understand that it will cost more annually long after the work is done...

If so, should I create the LLC as to where the investment property resides or would it be ok for me to create an LLC in another state such as Arizona since they have low filing fee and no annual fee?

The answers have been varied with a LLC mentioned most often.But, because of the $800 annual tax CA imposes, a business trust has been mentioned next most frequently or out-of-state, "foreign" LLC's, which although cheaper to implement can have expensive drawbacks (extra tax return, costs if legal action out-of-state, etc), I've been warned.My seed money is $15K of a $20K non-earned lump sum from Social Security.

I've since depreciated a total of $2,000 of the roof's cost on my annual taxes each year since.When selling a rental property, Net Adjusted Basis = Purchase Price + Improvements - DepreciationIf I sell this property now, how do the above amounts factor into my Capital Improvement additions / Depreciation subtractions?