Some accountant determines the rates based on risk and the computer just spits out numbers. 

They are currently rented out, although the 2-plex is owner-occupied.I'm not sure how to go about determining a market price though, specifically with regard to the fact that there are so many different types and ages of buildings.

The building was just inspected by a very credible engineer out of Columbus, Ohio and it was determined that the building is still structurally sound. 

However over the years the IRS has been very suspicious of such arrangements because of the opportunity for friendly parties to structure sales prices to shift the basis to benefit the exchangor. 

Most piggyback seconds require 721 middle FICO score and full doc (IRS taxes).  

There are a lot of first time home buyer tools available online to help you determine that value based on your families income.

Hihttps://www.irs.gov/businesses...According to this IRS guideline, I am supposed to use SSN to file tax return for my LLC (I am the single member of the LLC).

Will IRS be sent a 1098 for cash out refi and will it look the exact same as a regular mortgage?

These questions can help you determine the seller's motivation and possibly give you insight into how flexible they are with current asking price.Best of luck to you on the property tour and deal #1!

Ashley Kehr will go over a wide variety of topics, such as goal setting, partnerships, how to find and fund deals, how to build a team, how to determine what market to invest in, how to analyze deals, and how to make offers & negotiate.