That's an advantage of a broker, knowing who will smile on which borrower and the best place to fund/buy the loan.You schedule certainly shows the difference it can make if a borrower has compensating factors, assets and reserves that can increase their borrowing power. :)

Either way, making an 15% return on your initial investment is all smiles.

Things like Legal, Accounting, Marketing etc. can all be things that you would want to account for even if just as a miscellaneous/fudge factor.That being said with that giant vacancy rate and pretty healthy maintenance line item the numbers look pretty solid.

Unless you want the tenant in court to smile at you and want the judge to award damages AGAINST YOU to pay the tenant you do not need to even think about turning off the water etc.You might want to talk to an eviction attorney at this point with this pro tenant to see what it will take to get them out.

And who wants to chunk money into a 401k for 40 years so that you can be a millionaire upon retirement only to find out that you're old and your health is bad due to the stress of that j.o.b.

A healthy debate always includes uncomfortable issues.

@Michael DeAngelo,You have a good head on your shoulders.As for fear, that is healthy, everyone shares that on their first deal.

I start to look through their pictures, and smile, I like them....then I notice...they have not been on Facebook in years!

Hey Jonathan, with your encouraging words and kind smile, I can feel my confidence level on the rise.

Surprisingly enough @Michael W, some mobile homes do sell for a healthy price.