Suppose it is just a general purchase and sale?

Note: If you go to the same meeting each month, you can do detail tracking for a month, and can use same detail to estimate expense for rest of the year.( If nothing changed)2) Meals when traveling away from home - 50% is deductible unless the meal is provided to the general public (like Open houses) than it is 100% deductible.

IE you got a deal that has some great upside so the cost to get it is easily absorbed .. but generally not the case for most investors.. best to just wait and refi once.

Luckily Wichita's market seems to have plenty of solid fundamental opportunities.What do you like to see in your investments here in town or in general?

But generally speaking yes you can put that kind of money into the property if you get it at the right price.

Have you had any General Contractor do an estimated M & L. to make your repairs or updates that obviously need to be done. 

It will help you evaluate rentals, in general, better.Before the occupancy permit issue, it seemed like not an amazingly good or bad deal.

I I am looking a general contractor to remodel my basement adding a kitchen, washer and Dryer hook ups and add a walk out door so I can rent out my basement.

Percentages vary depending on your strategy but here is generally how I use my excess cash from this portfolio: Say you have extra 1,000 bucks after paying your monthly expenses and putting aside money for reserves: I split it out in the following manner. 1) Additional rainy day fund for CAPEX and repairs. 10% 2) Additional Acquisitions budget 50% 3) Additional Debt paydown 25% 4) Stocks / Bonds/ Pay myself. 15% I definitely prescribe to the pay myself first , and have a more conservative approach when dealing with debt .

Not to mention even though Prices are more reasonable Upstate, NY state in general has Tenant friendly Laws as a beginner I rather learn and make mistakes in a State that laws are more Landlord Friendly, Property Taxes are high in general in NY State and snow is worst Upstate some of the factors why I headed South...After deciding to invest out of State the next big question was which market, I picked 3 did what many do here in BP and probably overanalyzed the markets then visited all 3  markets and made a decision where to plant my roots.