In my perfect world, I'd spend the next 5 years building a portfolio and 5 years after that training a really great business manager so after 10 I can quit my day job it can become more passive for me.

It would be perfect for long term rentals but not a live in flip.  

That's not the case across the board and it may simply be an issue where the association isn't aggressive enough in collecting past due balances but I've found that not to be the case most of the time.  

This is a perfect example of why you need to know the areas well and not get lured in by low prices and pro forma's promising unrealistic cash flow and ROI.

In 1998 I did a deal that played out like so:1- I had my agent find me a property in a so-so neighborhood for 32K.2- I offered 18K with $50 down; It was accepted.3- I asked the seller for the zoning certification and proof of title (I knew that my end buyer would request the same from me).4- My contract with the original seller stated that I would pay the balance in 30 days.5- I found a cash buyer in 12 days. 

You might have the perfect solution for a backpacker that doesn't want to pay downtown London prices!

Details are they will hold 20% but only for 5 years max. so with that short a term do I offer interest only payments to them and then just refi and payout the balance at the end of the 5 years?

This is a perfect price range to get started in parts on NYC. 

For more information, see Publication 946.The following items increase the basis of property.The cost of extending utility service lines to the property;Impact fees;Legal fees, such as the cost of defending and perfecting title;Legal fees for obtaining a decrease in an assessment levied against property to pay for local improvements;Zoning costs; andThe capitalized value of a redeemable ground rent.Deducting vs.

Hello everyone,I have a goal to double my SD IRA Acct Balance in 12 months or less.