It seems like a lot when my sole purpose is to use it for investing, but I will have to thoroughly do more research and weigh my options.  

This doesn't account or allow for any other debts like student loans, car payments or loans for investment purposes.

The property must be held strictly for investment purpose. 

As a wholesaler you would have been classified as a dealer for ax purposes, meaning your houses are inventory and you should have reported your income and expenses on schedule C.Your schedule C $8k loss should have flowed through to your 1040 and decreased ultimately your taxable income.You can carry forward your sched C losses of your 1040 income goes negative.I think you should look at amending your 2013 return.

and when relocating cross country, its either that (rent residence at least temporarily) or extended stay hotels and the like til close on residence. i opted for extended stay cuz there was more freedom/flex than most leases afford esp since just temp/short term.and i do know of some mature 'investors' who still live in their parents house interdependence style, like in the basement and stuff, and seem to have no interest in independence. can totally fathom the need to take in elderly parents when the time comes, lest they be placed in nursing homes. but living in parents basement or garage while being a supposedly established re investor is quite ironic too for it is what it is.

Tell you what.. if it’s outside Iron Triangle or North Richmond, I will pay $100K all-in for each SFR in Richmond all day every day and you can keep the other $25K+!

Are you looking to represent clients or for your own investment purposes?

That's the purpose of a lease.  

do fan out if the OP keeps us updated here on BP in months/years' proceedings to come, considering the initial express interest in having police remove her. i do wonder what judge wouldn't seriously question duress and/or query the health and psychological wellness of a 96yo woman who somehow lost her home to the iron hammer of eminent domain proceeding, then the replacement to her granddaughter, and is now wanted off the property and gone, with not a shred on accomodation for her in her final years indicated by the OP herewithin.there's always two sides to a story and so its sadden poor/old 96yo granny (bless her soul) or her agent isn't likely in the least to ever show up here to tell her side.am hopeful all parties in said dispute get the justice they deserve and somehow all live happily ever despite today's wrath of a grossly litigious America where sovereign all-American family values once flourished.not a lawyer either so not giving advice but rather input - and perspective - as a fellow forum reader and writer.

It's an iron clad rule of investing: never spend your capital.As for the profits, it depends upon where you are in your investing cycle.When I had other income, every penny the real estate generated went right back into real estate and got added to my capital.Now that my only income is my real estate, all of my living expenses come out of the profit.I suspect it also depends upn how much support you are getting from your spouse.