When purchasing a multi family.....what happens to the security deposits that they paid the previous owner?

I think you would have a better chance of purchasing below market if you concentrated on regular sellers since there is some desperation or emotion involved.

I'm not really sure that my flip activity could be called continuous and regular.

There are quite a few other folks on board from Denver and the surrounding areas and we do meet semi-regularly.

In the future, when I am able to get a more secure and steady internet connection, I think I am going with VOIP.

Locking the rent in at a rate somewhat below market could somewhat lower the value of the building in the coming years (since the rates could be below market), but if we could maintain even a 9% cap rate (i.e. let them rent at 10% less than they are paying now) I can't imagine having trouble securing financing.I mean 9% cap on a AA secured property for 7 yrs gauranteed would be amazing.

The vacant policy I bought for the rental until I can get it fixed and rented is about half the regular rental policy.

Go from there, hopefully acquiring more SFHs and maybe more multi-family homes, and maybe eventually getting into commercial stuff.I don't have a lot of rehab skills, nor time to be doing a lot of work, as my regular work keeps me busy.

There are definitely people in there from time to time, but it isn't exactly regular.I'd love to host regular chats . . . we just need some people to host them!

If have Dealer staus acording tothe IRS even if you hold a property longer than one year you still pay ordinary income on it and all your gains are subject to self empoyment taxes (ie: Social security @15%~~).