If you don't accurately account for all theses expenses, you will join the majority of newbies in this business who crash and burn.The truth is that throughout the United States, operating expenses run 45% to 50% of gross rents.

We didn't know for what at the time because the presumed ex-LL had been involved with throwing his girlfiend out and removong her property unbenouced to her, and a drunken car crash.

Seriously - how many couples do you think actually sit around and go, "We're making a pile of money right now - let's SAVE it and buy real estate when the market crashes!"

Have their been any unexpected expenses or surprises (such as termite infestations, or other nasty, expensive unpleasantness) with the properties?

smgraves85,I only buy properties that have a minimum 30% equity at closing (50% now that the market has crashed) and a minimum cash flow of $100 per unit per month (using real world expense numbers).

:D You never know, they might have friends or family they can crash with, even thought they have not said this - and they would be out of your hair.

Maybe like going to cockroach races only to see a cockroach crash, I kind of miss those posts,yet, at the same time knowing it is a very good thing all around that they are less frequent.Dwayne

If the author is right, we've not seen anything yet.http://seekingalpha.com/article/90892-the-great-consumer-crash-of-2009

No fear mongering here, just plain old fashioned scary stuff.http://online.wsj.com/article/SB122134089502132567.htmlAnyone saying "let the banks crash" should think twice.

Just like if Yetis exist or if aliens crashed at Roswell.