(You obviously don't think you'd qualify today.)2) If this is a personal residence, I don't see why you think you need to put 20% down.

To stand out from the crowd I asked the realtor to represent me as the buyer (needed someone in my corner) and wrote a letter to the seller explaining that I was a new investor and would care for the property.How did you finance this deal?

Just today I decided to move forward, so reading your response really helped settle my mind on the issue.

so it seems I shoulnd't do it if it is not fot 50K or more a 5-10K investment seems not worth the cost.since you mention carryforward loss forms, for both state and federal, since I use a CPA today, how do I know the history of the loss being carried?

If you're goal is to learn as a passive investor, it is definitely possible, but you won't have much day-to-day involvement in the deal, as I am sure you are well aware of since you're currently an investor in a deal.

Like what is your specific situation in the investment game right now today.

Having a McD next door suggests a good neighborhood; based on income the price is high-but so is all MF today.

I totally understand that real estate is not a passive investment, I've worked exclusively in the multi-family real estate world for the last 10 years and I would be the one findings deals and handling the day to day  Unfortunately, they are old school and don't talk about finances with the kids.

One indicator to watch for is building costs rising.For example when I was buying in Atlanta in 2011 building costs were $18 per sq foot, today we are looking at around $100 per sq foot...boomSo what happened during this period?

@Patrick SearsSpoke with my attorney today and asked again.