A degree won't help you at all, unless you use the degree to get a job that will put money in your account to make your first few purchases.

And be sure to check with folks other than your family banker (where you carry all your accounts) - you'd be surprised how much price / term shopping can save you on each deal.Best of luck to you and I look forward to following your journey!

When I plug this into the calc while also accounting for 5% Maint, 5% Vacancy, 8% CapEx and $0 management (it's local)...

When I plug this into the calc while also accounting for 5% Maint, 5% Vacancy, 8% CapEx and $0 management (it's local)...

"I'll be doing my semi annual maintenance inspection soon.

Hi All,My name is Kristen Graham and I currently reside in Dallas, Tx working as a private equity fund accountant.

If less than that, let's say 80%, you deduct 80%. 2) if you use the money for the personal purpose, it is not deducted. let's say you use remaining 20% from above eg on a car, you can't deduct that. 3) if you hold the money at the bank that is your rentals bank account for future repairs and capex, it is deductible at the rental level.

Recently, I graduated from East Carolina University with a Bachelor in Science (Accounting).I always wanted to get involved with real estate, although I didn't know for sure which avenue I wanted to take.

First, Rentometer is great for a ball-park figure, but it doesn't take into account a lot of information on the house (type [SF vs. duplex], square footage, condition, finishings, etc.)I would recommend reviewing rental listings on Zillow/Craigslist that are comparable to your in-laws house so you can get a better idea of what rents would be. 

Don't forget to take into account all of your expenses if you're doing buy-and-hold (especially in Columbia, MD with the Columbia Association fees on top of any other special tax assessments that may be there).