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It took a bit for me to start keeping track of the repairs, but I'm doing it now.

The first year's payments would be $10,152 including about $9,270 of tax-deductible interest.Suppose the property is rented for $13,800 a year, and the total of operating expenses paid by the owner, such as property tax, insurance, and repairs, is $2,500.

In my experience we all underestimate costs and overestimate repaired FMV.7.

Be careful to account for this.Rehabbed properties (with proof of repairs) and regular properties without title seasoning problems can also be set up this way – with much better scenarios than the ‘flipping’ example above.

Our orignal agreement states that I'm responsible for repairs simply because I didn't want them breaking something then going out and paying for it themselves to in-turn try to negoitate rent for repairs.

Acquisition cost, plus repair/rehab cost of 70% is at the TOP END.Keep looking, keep your cash dry so you can pounce on the deals that do come up.

Whenever I tell a Realtor what I want, the so called "deals" they find are at market value...of if they're below, the price of the repairs will take it up to or past market value...hence, no profit.If I have them find me a rental, they always show me a negative or barely break even situation, and I have to explain that I'm looking for 1.5-2 percent of the sales price gross monthly income.

Listings, photos of homes & repairs, setting appointments, contractors bids, etc get all done through email or fax.

This is a technique the realtors and seasoned investors use.