I'm not an attorney but if what you are telling me is true, you should have no problem defending yourself.

Perhaps I need to up my Google game!

She looks at things from an investor's perspective, and helped me purchase the duplex that I live in. https://www.realtyaustin.com/agents/Jen-Berbas.phpSince purchase prices and property taxes are pretty high, SFRs in Austin are definitely an appreciation game, not cash flow (assuming the standard 25% down). 

I completely agree with you that 'gambling', or what I prefer to see as calculated risk taking, is certainly part of the game.

If they come here, then it's game on. 

I am just trying to feel out how the process works and I came across the following situation and as the old saying goes (if its too good to be true...) this looks too good/easy.

Thank you James, it wasn’t scaring me away too much but it did have me thinking, but I feel that since I’m so early in this game I’m still dealing with that nervousness and fear at times since that stuff isn’t easy to shake off.

If it is 5 or more, then it is a true MFH so you should ask for the rent roll as well as the T12 (or what he does have of it) to gauge the expenses.

@Rashard Dennis They usually require some skin in the game.

You will want to use $220,000 - land as basis, which means the IRS becomes aware of the true value.