I am a total newbie, but it APPEARS that its just like having gauranteed renters for the first 5 yrs?

(The house was built in 1952 and almost nothing had been touched in over 50 yrs.)

My name is Kim and I'm 37 yrs young...I live just south of St.

My brother and I started a LLC 2.5 yrs ago with the goal of purchasing rental properties with excellent cash flow.

It's only 5 yrs old, 3 b, 2 1/2b home.

i can appreciate both of your comments..i have about 20yrs experience.i have been doing construction in one form or another since i was 15 yrs old.i have worked in custom cabinet shops,for remoldelers ect.i have been in business for myslef for the last 6yrs.i do almost everyhing.i have always wanted to get into realestate but never had the cash.i always had to support someone along the line.i figure this would be a good way to get into it.i understand your concerns.if there is anything else anyone would like to know just ask.mike

My question - my husband had in the past 10 yrs (8 with his X) - purchased I believe about 7 homes.

. = $6,000.00 x 3 yrs. = $18,000.00.Therefore $18,000.00 is the most you can give for this house.Is this the same as the 2% rule just another way of figuring it.Do you guys us this type of formula to figure what you will pay for a house?

Chewing should not be an issue, since they are 5 yrs old.

My sub is only 10 yrs old and 3 yrs ago most homes were fetching 220k.