You'll also want to independently verify the typical cap rate for your area.3) Determine how much you can afford to pay and stick to that figure when you're running numbers.4) If you're looking at a building with existing tenants, you will want to know what they're paying and get a copy of the leases.

Im a pretty independent, introverted guy so I don't like small talk or going to these networking groups.

It is a terrific way to build wealth to achieve financial independence in a reasonable amount of time while still working your W-2 job.  

Working with competent, independent wholesalers, with accurate ARV's and repair estimates, is even a challenge-- there is an astonishing lack of knowledge and professionalism from some, due to such a weak barrier of entry.  

(I assume you are not a licensed broker -- which is another issue with your plan).Depending upon your state law, hard money brokers will also have a fiduciary responsibility to their investors (they do in CA) and would be required to evaluate any deal you bring to see if it's sitable for her to loan against.You’ll still make your sale and she will have a presumably safe loan, vetted by someone independent who understands and will disclose all risks to her.

We are looking for a single family up to 4plex and have a few areas right outside the KC market that we are currently looking at (Lees Summit, Blue Springs, Independence, Warrensburg). 

I also did not independently confirm any of this information.

I'm going to start an Financial Independence Dallas Meetup (how is there not one already?!).

As in - if you want to take an aggressive position and are not afraid to defend it in case you're audited, then...Here is one possible answer, out of many that could come out of a thorough analysis.the apartments can be considered in service since Oct 2018, so you can probably deduct your entire mortgage interest and your entire holding costs such as taxes and insurancerehab costs should be allocated to the different parts of the property as much as possibleonce each respective part of the property is ready to be placed in service, its portion of the rehab kicks insome pieces of that partial rehab, like appliances and carpets, could be immediately deductedother parts (which is possibly most of the rehab) will have to be slowly depreciated over 27.5 years for the residential units and 39 yours for the shopsonly some work specific to the apartments might qualify as repairs, and it has be evaluated by a tax proYes, it's complicated.

We did an audit and found this out.