A guy in my town built a 6 unit apartment building 2 years ago and put the shower head coming out of the ceiling like that, but then put a regular head on it.

Originally posted by @Ned Carey:Acquisition FinancingProperty managementLeasing and tenant retention.Administration That is a pretty good break down.

It started with an ambitious goal, real estate investment with a purpose (see old post here: https://www.biggerpockets.com/forums/61/topics/411...) and now, two years later, I am proud to say that there is a family living a little bit better, and I am above break even...

My reading and a fellow investor taught me that it starts with understanding the 70% Rule which is a quick rule of thumb that can be used to quickly analyze a rehab deal or wholesale deal by applying a 30% discount to the ARV (less repairs).70% Rule FormulaQuick analysis assumes profit and fixed cost will make up 30% of ARV(ARV * 70%) - Repairs = Rehabber’s MPPDetailed analysis breaks the 15% into a detailed itemized list...ARV - Repairs - Purchase Costs - Holding Costs - Selling Costs - Profit = Rehabber’s MPPThen, in order to determine Wholesalers Maximum Allowable Offer you would use the following formula:MAO = Rehabber's MPP - Wholesale ProfitWhat I need to be able to do is use the Max Purchase Price formula (detailed analysis) in order to calculate a more accurate MPP.

We'd fix it, they'd break it again. 

Congrats, and thanks for the simple break down.  

Not sure if this may break the deal or not.I expect to run the management once I get the hang of it, for now happy to pay for the continuity of property management while I "figure it out" and eventually scale back the W2 job.Am I forgetting anything? 

You are correct that in any given year only $3,000 of capital loss can be used to offset regular income.

So, in this case, would having the son added on the lease give the dad the same flexibility to break the lease when the deployment happens because the lease is jointly in their names?

I would suggest using local non-national banks they are eaisier to work with and you can establish a relationship just going to use them regularly instead of just poking in one day asking for what they have for you.