Purchase price: $118,175 Cash invested: $26,900 I have moved out of my first duplex I was house hacking after purchasing another almost identical duplex on the same decommissioned air force base.

If you buy another identical property:Purchase price of $96,000 20% down with closing costs would be roughly $20K.

@Richard F. thank you for your reply  so there is a bathroom the same identical way above this unit.

Activities of producing or distributing goods or performing services from which gross income is derived do not lose their identity as trades or businesses merely because they are carried on within a larger framework of other activities that may, or may not, be related to the organization's exempt purposes.

We were able to cash out $50K of our original investment and just made an offer on a property yesterday with that cash as the primary down payment.In a less happy but still optimistic note- we also ended up filing the lawsuit for fraud against the original seller as the final charges for code violations that were not disclosed came out to around $38K.

If you have the intent to re-sell it before then, then that would be considered by many on here as mortgage fraud.

I love the sound of your strategy as it mimics ours almost identically!

If you come across an identical property to your subject that sold 12 months prior, it might make a better comp than less similar properties that sold 3 month prior - just make sure you adjust the price properly to account for general market increases for your area during that time.

Commerical deals are different and usually we'll get them.The real issue here is fraud, landlord confusion, or landlord unawarness.As an alterative to the estoppels, basically have a post-closing landlord certification drawn up before the closing and signed.

This just posted as a BP Blog regarding Securities Fraud .... article mentions Kris Krohn:https://www.biggerpockets.com/blog/grant-cardone-class-actio...