@Dale Vance This strategy gain momentum during the rapid equity growth cycle we are now almost out of completely.

Therefore, any rent collected would be net gain even if your mortgage is more than your rents. 

If you fail to complete the purchase and sold the property you go back to 20% capital gain tax.

There are 4 key dates:year 5 -- 10% step up in basisyear 7 -- add'l 5% step up in basis12/31/26 -- recognition of adj. capital gains as gross incomeyear 10+ -- basis = the price you sell it at

We moved back to Augusta, GA in 2012 and had the $240K property at 3.75% and also using AHS for potential maintenance. 

I've gained a buyer lead and their criteria is...."

With that knowledge, I was able to confidently invest in a SFH that only needed minor repairs to become rentable, to gain immediate cash flow, as I waited for the market to appreciate.The goal was to buy and sell within one year.Breakdown: Purchase date: 6/30/2017 Listed: $60,000 Under Contract (as the Buyer): $55,000 Acquisition Price: $46,250 Renovation Cost: $1,955 Total investment: $48,205 Ten months after the purchase, we are under contract on the selling side at $65,000.

I just can't believe this is even legal.

As for getting PM experience, you don't need PM experience if you plan on living in 1 unit and renting the other 3 out, you'll gain that as you go through the ownership process.

Also note that any reimbursement from insurance will affect if you have a loss (or potentially a gain).