I opened a business checking account, transferred money from my own credit union account and then was told the new business account was being closed and that the bank was holding my money for 60 days.

This of course can prove to be a costly process!

So, acquiring the property for a $2,100 cost with potential earnings of $2,900 is acceptable in your evaluation, provided there is sufficient financial backing to cushion any potential setbacks.Thank you, Frank! 

Negotiate price, closing costs, and repairs, conduct inspections, and perform a final walkthrough.

Also, I know that by law real estate agents have to disclose if things on a property are unpermitted to allow the potential buyers a chance to back out of the purchase if it's too costly & the real estate agent who sold my friend this property didn't say anything about any of the 3 out buildings that are on the property.

All expenses, income, depreciation and any other deductions or costs apply to the partnership.  

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

The buyer must come up with the difference between the seller(s) current mortgage balance and agreed upon sales price, plus closings costs. 

If you don't know how to find that, let us know what city/state you are in and we can try to help.You can't violate Fair Housing laws, but there's no law that says you have to keep chronic complainers.This is one more reason why you need to keep your rentals at market rates, or close to them.

I canceled our online subscription and bought one desktop version.I hate paying $650/year now for QB Desktop but it’s the lowest-cost solution to our problems.