Only covered health expenses count toward your deductible.

Like I said the rent will cover mortgage/tax/ins. + 10%.

I hear most people say work a lease like it was the tennants own house, they cover their own maintenance and everything.

But it sounds like it over emphasizes appreciation over cash flow when both are important.Another thing that positive cash flow lets you do is immediately go out and look for another property to buy because your not using your salary from your day job to cover the negative cash flow on the other property.

We made an offer and the sellers accepted our offer of 335K but the banks will not come to an agreement on how to break up the amount we are offering to cover their debts.I understand that the first bank has collection rights and the second bank only can recoup what is left.

I would never get into something until all of my ducks are in a row...meaning that I have already established a solid network of investors waiting for my deals (which I have), and having a custom Purchase Agreement with enough contingencies to cover me whether I cannot find an invester to assign my contract to (this is the worse case scenerio)...if it were completely impossible for me to assign my contract, my agreement allows for me to walk away from the deal without any risk to me (although this is not fair to the seller).

The Reno also I'm covering every area to ensure all that I see as expense in future is in age of 2010 as to A/C, HWT and all other will be new.

Now I do have money saved up to put towards a down payment, so that part is covered and my current job is steady right now.

Or better, go with their $165K but ask for a $2500 credit to cover closing costs (and help you with your rehab project), In my area, this would have been gone a long time ago, so maybe you have more negotiating power there..

Why should someone with a maintenance free property pay higher management fees to cover the guy requiring three or four maintenance calls a month.Now clearly there are PMs out there screwing people everyday, just like in every other business and profession on the planet.