The $250.00 deductable I have to pay is peanuts compared to the amount it cost if you have an accident.Lefty

Currently, we're pre-qualified with a lender to purchase investment properties.I believe the biggest lesson I have to learn is determining the cash flow potential of properties by comparing sales price and against gross rents - the 2% rule as I've read.

This will tell you how bad the property truely is, compared to what it used to be.

You would not use a 1099-C for this purpose, this form is for financial institutions and gov't agencies.

If prices are still rapidly appreciating in your area, then consider the cost of holding over the winter as compared to the better expected price in the spring and the risk that prices will drop.Good Luck,Mike

For asset protection purposes, I am looking into putting them into a company name.

Currently in Brighton, Michigan with the sole purpose of investing in real estate.It all started after reading "Rich Dad, Poor Dad" about a year ago.I quit my job and moved out here in June to focus on investing full-time.So far it is going quite well.I currently have two properties under contract and am busy looking for partners.VERY happy I found this forum.Myles

Something that causes them to work harder when things are tough compared to just walking away with no personal loss.If they can get a new 1st and you take a second then you will likely have more cash at closing.

It is a bit of a pain figuring out the comparables if you can not see what has sold.LoopNet is a solution in the commercial space.

In this e-book I will discuss a marketing method that will allow you to promote yourself with overwhelming results for just pennies on the dollar compared to other forms of advertising.