The MLS is just a more efficient way to find the info.

In exchange, you get a much higher rate than you would for a more normal rental.

On this one, I'd say that it's fairly unlikely that investors buying strong cashflowing property would have taxable losses, even factoring in the depreciation.So there can be value in being a RE Professional, but it's for the minority of very high earners, and those with low-yielding properties generating tax losses.I think all of the other tax benefits of being a RE investor are available to all landlords.I do think having a dedicated spouse might make a more compelling case to the IRS for certain deductions, such as the home-office deduction.

It could work, but I would urge you to take a more critical look at all the numbers before you decide.

Likewise, he could sign a more traditional purchase and sales agreement and then do a double close with transactional funding.

It will be overkill for a garage but you mentioned that it was a more owner occupied neighborhood and that could be a huge selling feature for a buyer to have a garage that they can have a properly powered shop in.

I've found that a more reasonable way is taking the yearly net income you can expect (not counting the debt service) and dividing that by 10% or whatever return YOU require on your investments.

As you can see for this single family house, there are 3 price estimates which are quite different from each other:http://www.ziprealty.com/property/2714-REX-AVE-BAKERSFIELD-CA-93304/4754697/detailZillow estimates it at 96k, homegain at 104 and eppraisal at 71kFirst and foremost I want to know which one is a more reliable estimate.

Here is a more precise breakdown of the income/expenses.

My guess is it would be lower for a town house, but a lot of people on BP go by the 50% rule - that is, 50% of your rental income will be required for upkeep and maintenance of the property.At this point, I'll let a more experienced poster chime in and verifty all the points I'm making are accurate.Kyle