We lived in it for a year, remodeled both units and put in place a long-term tenant on one unit and a mid-term tenant on the other.Here's a little more details about this deal:*   Purchase price: $163k*   Financed price: $132k @ 7.625% APR*   After repair (estimated value): $225k*   Gross rents: $2150 ($750 one year lease & $1400 six month lease)*  Annual taxes and insurance: $7000*  Approx credit score: 650 (I used interest free credit card to pay for remodeling this property and maxing it out caused my score drop almost 50 pts!) 

There may be exceptions for relatives or if you are a salaried employee, but I doubt those situations apply. 

Living in the area of my rentals, self managing, being onsite frequently, able to do repairs cheaply by doing them myself or having employees do them, owning in a relatively landlord friendly area, etc.

Why would you pay 10% gross to a management company, that is $260/mo, use zillow, they have the tenant screening and 80% of the leads come from zillow any ways.3.

Yes, you might make more gross income....but when you factor in the added wear and tear, repairs/maintenace, and increased cleaning fees....are you really netting more money? 

You can usually get samples of the format from the County Recorder or Court employee who accepts deeds for recording.  

.- Management Fees: 2% of gross rental income annually.- Acquisition Fee: 2% of the purchase price.- Disposition Fee: 1% of the sale price.Option 2: Debt Financing with Equity Upside- Target Properties: Single-family homes, multifamily properties, and land for development in prime locations.- Interest Rate: 6% interest only for a term of 5 to 10 years- Prepayment Penalty: 2% if the loan is paid within the first 3 years- Equity Upside: Investor receives 30% equity of the appreciationWhich option do you think is more attractive and why?

For background information, I'm a W-2 contract employee who makes 80k+ a year and I have been working at this job since January of this year.

For background information, I'm a W-2 contract employee who makes 80k+ a year and I have been working at this job since January of this year.

A Mynd employee never actually goes out to your property except to show or inspect it.