There is also some minor cost involved and (depending on the state) some paperwork that needs to be done.Naming conventions are dictated by the state.

I noticed that (re: low end & cash flow) on paper, too, although the concern there is A. problem tenants and B. resale down the line and lastly C. the seller usually overstates income/understates expenses so upon diligent research, I've found that the cash flow often is minimal or disappears altogether--and the repairs necessary (usually involving heating & insulation, since all the low ends I've looked at include H&HW) to make the property flow are quite high.

I have been involved in real estate transactions for about 13 years now and I have a new interest in wholesaling and light fixers.

What I am doing now is just putting away most of the money I make.. because in my eyes saving can never go wrong.. it's just what you do with your money that can make or break a decision.

what are the details involved with the move?

Andrew, your lawyer was talking about a cost segregation study.It involves identify and separating short life assets from your new property basis and depreciating them separately, thus accelerating depreciation.For example, you can depreciate a 200k property over 27.5 years, ORUsing cost segregation, you determine that you have 20k in 5-year assets within the home(carpet, fridge, AC, etc...)You can depreciate the 20k in assets over the next 5 years and depreciate the 180k for the property over 27.5.

I would HIGHLY recommend that you get involved with ALL of your local RE club meetings, NOW.

These neighbors keep an eye out for the property, and they have my # to call if they see anything suspect, and call me.

And then my post was "edited" so I just left these forums because it seems someone with power here is involved.

Hello,I've been hanging around the Rehabbing forum a lot lately, but for me, I will most likely be involved in a single family detached house development.