"Diving into real estate as a newbie—ready to learn, connect, and turn knowledge into deals.

It is very easy to save money working in public accounting.I forgot what my dinner allowance was working at the big four 5 years ago in a major city(I think it was like $20?)

This seems unrealistically low for a 40 unit property.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

So if I understand this correctly, by qualifying to extend the 5 year rule to 10 yrs, $250k if single or $500k if married of proceeds from this sale would be exempt from capital gains? 

HI @James TobinAs you get into the RE market, regardless of where you choose use this website as a good starting point to find out what the areas are likehttps://www.areavibes.com/Best of luck from Fort Worth 

Where did you take into account the landlord paid utilities?

I've been diving deep into the Albuquerque, NM real estate market recently and wanted to share my findings and insights with fellow investors.

This will clarify and reinforce what you are reading.

This discrepancy has left me confused—should I be concerned about this?