Posted by Shawn on February 28, 2002 at 11:50:54:
Every owner has a book, spreadsheet, whatever to track income/expenses for good ol’ Uncle Sam. Most owners will “slant” the books to look less profitable for the government. Whenever you look at any income producing property make absolutly certain to examine the books or pass on it. Always dig as deeply as you can to discover why a property owner is selling a property that is netting them a $1000.00 a month, especially if they are willing to sell creatively. Good luck!