You have to comply with one - and only one - of the rules outlined in the above article.

The 30% equity spread that Jim was outlining will cover all your expenses and profit margin NOT including repairs.

You may only have to meet with the assessor or send a letter outlining the errors.

Even the consultant the city hired already outlined some very major changes that have to happen to make it a reality.

Smithvp, your state's property code will outline what can and can't be done.

When you outline those things up front, and you have responsible tenants, they're not an issue.

Here's what you have to show top people to win them over to your side and bring them on your team:A plan - It could be one page or it could be a full well-written 30 page business plan but have something that you can give them in writing outlining what you're going to do and how you plan on getting there.Show them the money - Give them your credit score, your financial statement and show them how you're planning on getting the money.

We have a thirty + page operating agreement outlining all roles and company/partnership by-laws.

This should outline the basic conditions in which you will be willing to purchase the property.

Please check my math.From what I see (and using no other income) if he buys the house using the scenario outlined, then rent needs to be $3244.81/month or more.