It took me 6 months to find a good one in East Austin.Make offers based on the numbers, make offers and be patient.

Once I got comfortable with analyzing deals and had a solid knowledge base from the forums, webinars, @Brandon Turner's "The Ultimate Beginner’s Guide to Real Estate Investing" and @David Greene's "Long-Distance Real Estate Investing" books, I hooked up with an agent in St.

Based on my interpretation of the description, It appears that the property is divided by percent between the two entities.

One of the renters is in the military and works on the base. 

US based investors.

Or was it purely based on a recommendation or referral?

Based on conversations with several private lenders, I am on the right track with functionality and features. 

One question I did have that I find very relevant and a big determinant in choosing what property to purchase and that would be what to charge for rent and how to determine whether or not a particular property is worth purchasing based on its income. 

List price: $350,0004 units: 3 x 2 bd/1.5ba 1 X 2bd/2baI figured $1100/mo for rent for the 3 1.5 baths and $1150 for the 2 bathTotal Income: $4450I used Zillow and my assessor's website for tax info (although I have no idea what FCV and LPV are)Tax: $95Vacancy: $230 (5%)Repairs: $230 (5%)CAPEX: $230 (5%)Property management: $450 (10%)Mortgage: $1922 (using an FHA loan at 3.5%)PMI: $280Insurance: $70 (based on zillows numbers)Total Expenses $3507Cashflow: $4450- $3507 = $943Down payment: $14000Closing costs: $4000 (I definitely need help with this number)Rehab: $10,000 (pulled this out of my butt, only 1 picture of the outside)Total cash in: $28,000Cashflow for the year= $11316COC ROI= 40.4%I'd just like a little help to figure out if I'm even in the ballpark or if I really need to make some big adjustments to my numbers.

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