My work has increased the assessed value of the land to 8.4k per unit compared to the initial purchase appraisal of 3k per unit.

Use comparable sales, not tax assessment values in a declining market. 3.

Hopefully someone smarter than I can chime in and give you a more thorough assessment.

If it is your only income I do not see why you couldn't do that but talk to a CPA about that.Of course, you are right about keeping your personal separate from your business as much as possible.However, I do this funny thing of borrowing (as my LLC) from my self personally and charging my LLC interest to borrow!

These are the numbers I came up with and wanted to make sure I'm assessing it correctly (using the lower numbers).PITI $1,901.14 broken down= $374.30 current taxes $180.00 (roughly for lender placed insurance) $155.55 for back taxes and P.I. $1,191.55Rents $2,100.00+800.00 =2,900.0040% of $2,900.00= $1,160.00$1,450.00+1,160.00 = $2,610.00$2,900.00-$2,610.00 = $290.00 PLUS I think I should be adding back the $374.30 + $180.00 since the taxes and insurance are included in the payment right??

Or do you mean 'assessed value'?

I'd rather be self sufficient.As far as Hurrican Katrina, it's true that nobody starved to death.

So, its no worse than a regular W2 job.What is worse is that because you're self-employed, you have to play both halves of the Social Security taxes.

It's kind of hard to respond to your post because your not very clear on your investment objectives or what you consider a deal.

Once he's retired, he can self-direct his 401K, and you can tell him how to make double digit returns holding notes.