@Bill Walston is the tax expert for sure.All I do are assignments, and I pay a 13% SE tax because apparently tehre are some people that refuse to buy health care...not sure how that's realated to my business..but...

Hope all works well for you and you have the proper resources in places to take care of any/all aspects with the rental!

Be careful as the price range of house you are looking for...believe it or not, thanks to Dodd-Frank, you will have more success getting a loan in the amount of $90,000 than a loan at $40,000.

I do not like holding deals with "hair" on them meaning many things that can bite you down the road.

i lived in apts before. never did i touch the wall with nasty fingers while putting my shoes. they know they have to leave it the way they found it. of course they would not install a new carpet, but at least take care of the brand new stuff i gave you!!

You must make the seller feel like their properties is in capable and professional hands, that you are going to take care of this problem for them and quickly.

I will take care the rotten wood.

When I analyze the target market to determine the rent or loan payment, I always factor in this consideration; if you do not make it possible for the tenant/borrower to enjoy life by having enough money for an occasional family night out on the town or a backyard BBQ with friends, they will turn into a landlord hater and take it out on your property.Happy tenants/borrowers are great payers and take better care of the property.This has been my experience.

The honesty that nobody wants to say here, NO ONE, will care more about your loan and your loan terms than you.

But be careful - people's gut was telling them WWII would not happen, but it did.