Maybe appreciation will happen and you build the total value of the portfolio.

Our 1st mortgage is for $128,000 and our 2nd mortgage is for $20,000 for a total of $148,000.

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.

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.