Even IF they were a low rent tenant, and their belongings total $200, if someone makes a claim against you, it is up to you to provide the proof there was no bags of gold.As to the cleanup of bodily fluids, yes, there are specific measures you must take.

If you rent out a vacation property for at least 15 days in a given year and your personal usage is limited to 14 days or 10 percent of the time it is rented (whichever is greater), then the property is considered rental property so you receive the following benefits:- All business expenses (including mortgage interest, property taxes, insurance, advertising, and maintenance) can be deducted against rental income received on the property - If the total expenses are less than the gross rental income, the resulting profit is taxable income - If the total expenses exceed gross rental income, the resulting loss can be used to offset income from other investments From a fractional perspective, how many days it is available for rental obviously depends on the number of fractions that have been allocated.

I totally aggree about finding books.

Not sure I totally agree with ScottFicek's analogy about hillbillies, as I'm from the South and hillbillies/rednecks can be found 25 miles outside of any major city in the U.S, but I do understand and agree with his logic.......the term "slumlord" should definitely be attributed to the person's lack of care about the tenants & property and not the low income housing they are investing in.

hello everyone, i'm a beginning investor and i need some help/advice on putting this deal together.well anyway here is my story, just the other day i found a vacant run down boarded up house in a good neighborhood (were the other properties have beening selling kinda high and etc), this propery was listed by this real estate companyso i called the real estate company got the price of the property and setup a walk through to see just how bad it was inside, so the next day we went through the property and man i tell you this property needs alot of worknow at this point i am only interested in wholesaling the property to another investor because i think the rehab will be a little to much for me being a beginner and etc, so i told the agent to make an offer on the property, and after some negotiation the seller said as far as he'll come down on the price is $10,000so here is my problem, the agent said before we can go any farther i need to show proof of funds ((becuase no bank would give you a mortgage on a property like that, so whoever that'll purchase would need to be a cash buyer)) and open escrow with about $2,000 which i don't have any funds ((i just want to tie this property up/get it under contract so i can sale it to another investor)), plus the agent told me that the listing agent of the property is also a rehaber and said if i dont take it he'll take it, and the only reason he's giving me that opportunity is because he's already rehabing a couple of other properties right now ((which i don't know if this is a tactic to get me to get the property faster or what))but here is some info about this deal, the property was listed at $79,900 and was reduced to $65,000 about a month ago, then i got them down to $55,000, and the properties in the same neighorhood with the same specs are selling for $142,900 in good conditionso how to i go about tieing this property up especially when working with a real estate agent, oh yeah something i forgot to mention i even have friend that would be interested in buying the property off of me to rehab it, its just that he wants me to find him a hard money lender to work with......SO IF SOMEONE CAN HELP, PLEASE LET ME KNOW WHAT TO DO, ALL OF THESE PEOPLE ARE WAITING ON ME TO MAKE A MOVE

Now you have a total of2 open savings account, 1 credit card reporting as unsecured, and 3 CDsLegally and Technically, I cant quote how many points this will give you, but those people that I have that have tried this method gain a minimum of 100 points in 90 days on the scores, that's if your paying all of your other bills on time and nothing else negative pops up.

Do most property managers charge a percentage of total gross potential rent, or total collected rent?

Money that is borrowed in a panic is the most expensive kind.If I were you I'd take a hard look at your total finances, including the current rental.

So, points calculated on the total.$130,000 Purchase price $2,600 Purchase closing costs $25,000 repairs $12,600 interest (computed on above items, 16%, 6 mo, $157,600) $11,900 points (computed on above items, 7 points on $170,000) $3,000 holding costs (insurance, taxes, utilities) $17,600 sales closing costs (6% for agents, 2% for other costs)$202,700 total costs$220,000 sales price $17,300 potential profitThat's sort of a worst case for the hard money costs.

Hey there Totally,Its nice to see that their are more and more people that choose to leave their previous working enviornment to try out real estate!