Property will not cash flow right out of the gate due to the 5 yr term.

Secondly, his rents are $400 under market right out of the gate, without doing a dime of improvements.

With only two unis, you are not going to be high on the priority list of a good handyman, so you may be forced to do some taks by yourself.

Then again, even if you are charging $2k for a studio there are still people banging down your door to rent them.SF Gate has a nice rental finder but I think they pull their listings from elsewhere.Can you give us more info about what area it's in, what price it's at, whether it's for low income or high income etc?

Not saying you wouldn't start making money right out of the gate as an agent or wholesaler, as some people do, just that it will probably take you longer than 5 months to realize a profit that could pay down your debt after the expenses of getting started.

There is a breakeven livability income amount and it is usually around 30 to 40k a person ( what many jobs pay) so is hard to save anything which is why the income earned out of the starting gate is so important.I believe in colleges but only under the right circumstances.

Anyway the guy is basically a Gate keeper for a lender that lends at 100% at about 5.5%.

It will be nice to not be gated by a construction loan because we raised the money for the development.

The crushed pepper is like a punch to the face and as long as they dont bring in different dogs it will train them to only go so close to the gate.

What you want to do is what my husband and I have been doing for the past 12 years, we have been doing it this way which is the way it has worked for us:Our first home was a traditional sale FHA the house was outdated it needed a lot of work in kitchen and bathrooms plus carpet, we lived there for a few years mean while we were fixing it little by little with money out of our pockets the home cost us $117k we sold it for $220k, with that money we bought a piece of land (more like a lot) for $35k and built a house on it for $60k sold that one for $120k, we were fortunate to sale the house when price of homes here in AZ were really low we were able to by 2 houses with 120K but they were foreclosures and one needed a lot of work the other one also need some work but not as much so we lived in that one till we finished fixing both up the one that needed a lot of work (ugly one) cost us $40k and we put $20K into it we rent that one out now for $900 per month we are holding it for a few years to avoid paying a lot of taxes, the house has recently been appraised for $136K we have had the house for 2 years.The other house cost us $60K and only had to put $10k into it (we just put new roof, fixed rv gate and painted house inside and out) we sold it about a year ago and sold for $138K, we recently jumped to our next home which we live in it now we got it a year ago for $157K it was a short sale we just painted and fixed the pool and now it has been appraised for $225K.