Many, many new buy and hold investors fall for the grand myth of rentals:phony cash flow = rent - pitiAgents even write such silliness into their MLS listings.

Oh, life would be so grand if I accept their offer.So, Leibel, what makes your letter any different?

So you may be a couple grand short in the end.

I have a decent idea that around the UT campus area rents range from 400-800+ depending on what you are renting of course with 400 being an efficiency apartment.I would not spend over 30 grand on a home, would like to buy one which needs maybe 5-10k of fixing up. knox has a large amount of homes in this number bracket.My idea would be to either owner finance a home, or pay a large payment down and receive a loan from either a bank, or use some other options I have regarding acquiring the money (too many details).What do you all think of this idea?

After I had already negotiated a renewal in Naples for next season (21K for 3 months), the Board informed me that my tenant was not welcome back - too many children/grand-children visiting.

It tracks all apartments, leases, provides financials by building, late rent notices, rent tracking, etc.Joe Delia - I'm in Grand Rapids.

We have even considered flipping it after a couple of years for an additional $100 grand or more in the bank.Thanks BP nation for shareing the knowledge.

If this seller can justify holding you up for $10k just to accept your offer, who's to say they won't try to shake you down for a few grand more for the cabinets they "sold" to some guy, who just hasn't picked them up yet?

I was sitting on 300 grand in the bank, and no one would lend me money.

At a 6% cap, you're only getting 6% cash on cash.I don't know what the market is like in Grand Junction.