That will influence your how much you get in funds for buying the land and for construction, as well as how much you need to put down for closing costs.If you don't have the experience you could partner up with someone with experience whose also got cash to help you with this deal.

And if you do not make good on the overdraft your days of banking (a necessary tool in this business) will come to a close.

We could probably charge a little bit more, but most snowbirds are senior citizens on a budget so I feel we're close to the top of what they will pay. 

My experience:Bought: March 2021, $64,900Sold: April 2024, $48,500 - $5,000 (agent fees/closing fees/etc) = $43,500Rental income (rents - expenses): $5,600Average annual returns: 2.9% (approximate)Net loss at sale: $15,800Positives:1.

My out-of-pocket $40,000You are into it for $430,000 plus closing costs for a questionable value of $450,000.

Refinance was $110k, no down payments and rolled in closing cost into new loan.

It would be easier not to do this way, because when account needs to be closed next year, I’ll have to go through the same BS. 

This falls under section 6.01 of that revenue procedures each year, the most recently applicable would be Rev Proc 2024-23, but the same language has been floating around in this annual Rev Proc for closing in on 10 years - note there are various caveats so this isn't a blanket statement on all changes related to depreciation expense changing in the second year.Before this, the mindset has been that one was required to amend, given except for this language, per the IRS one has only adopted an accounting method if they have used that method for at least 2 years. 

I just saw a off market house for sale in Grass Valley a few days ago.

Good morning all,I have a problem I own a coop today I will list for sale asking for 380K right across the hall my neighbor is selling a coop I am interested in for 545K real estate person told me I need 10% which is 55K I don't have it unless I sell coop first!