Easier to look on an annual basis.Income: $12,000 (rent)Expenses: $4,800Interest: $4,800 (only the interest part of the P&I payment, just a round number for the example)Depreciation: $2,000 (value of improvements / 27.5)Taxable Income: $400 (12,000-4,800-4,800-2,000)Tax: $112 (at 28% marginal rate)So, the income isn't totally tax free, but very close.

And yes - this deception ROYALLY pissed us off because the business of contracting is so time dependent and in the north (especially minnesotta) the weather does not allow us to always work year round.

Lets figure 7.5% for the interest ($7500, I'm rounding) and another $2000 for other costs.

I am trying to get my head round land contracts.

Not far from here a young couple was murdered by some new chinese gang - we don't have much gang activity round here compared to the USA, but now it does seem they're everywhere :(

A summer week = $1500 A winter week = $1700 Holidays are a bit higher A full summer season = roughly $18,000 A full winter season = roughly $24,000 Random other holidays = $4,000 Total yearly rentals = $46,000 Total yearly profit = $11,600 Now granted this is assuming full occupancy during high season, assuming some vacancy, you could round down to $8-10k a year profit.

A summer week = $1500 A winter week = $1700 Holidays are a bit higher A full summer season = roughly $18,000 A full winter season = roughly $24,000 Random other holidays = $4,000 Total yearly rentals = $46,000 Total yearly profit = $11,600 Now granted this is assuming full occupancy during high season, assuming some vacancy, you could round down to $8-10k a year profit.

Interesting that everyone does not like click2mail.I like the fact you can do mailmerge, and that you can do odd numbers of cards, or low numbers of cards.everyone else wants round numbers or large numbers for discounts.

The only difference is probably a couple more steps of beaurocracy (i.e. 1st round highest and best, then 2nd round highest and best) and the possibility of the RTC offering something equivalent to "owner financing" on the REOs.This is going to be interesting to watch.

Those folks can call or email a bid, and that name will go on the bid sheet along with everyone else's, for the round robin bidding on Sunday night.