First, I'm fairly new also, so take anything I say with a grain of salt.The 70% ARV rule that was laid is really good.  

It's like the 2% rule, but for cities - helps you weed them out.

RyanYeah....Don't do that...I doubt it is legal to do that in many places but sure as heck not in Tenant-achusetts.You can't even charge an application fee (Some people work around this with different terminology).Good rule of thumb around here is anything that might benefit you and is common sense is probably a violation of tenant-landlord law

The reason I say this is when I listen to the powers that be (creators and enforcers of said new rules GOV'T) and the ones that are the Title industries voice (that will have to implement the rules) there seems to be a disconnect. 

If a MHP has rules agains investors buying homes and renting them out, would the same rule apply if the investor bought a home in the park then put a lease option or rent to own contract on it with a new buyer?

there needs to be an arms length transaction, having the old owner might show signs of not obeying those rules,

If you have any questions as to Indiana laws or need information as to local city/county rules, regulations and ordinances, feel free to contact me.Happy Investing!

An LLC is only helping you if you follow the rules, and treat it as a true separate business entity.

That was helpful but I believe I need to report the remodeling costs now not when I sell as advised by Matt.We have a continuing discussion about this and I believe the rules for 2014 changed as well, so you really need to seek proper advice.However, the discussion we've had goes along the lines of whether we made a repair or replaced something, as to whether we can take the deduction.

You certainly want to understand all of these rules before you invest in something.