Purchase price: $220,000 Sale price: $232,000 Beautiful cosmetic remodel that I wholesaled in Grafton, MA. The

It's basically math.

I'm not sure where you got your 'potential income of 8-9k' per month as my math has it at $950 for the rental and 9x$400 for the TOHs for a monthly gross of $4550. 

I am currently doing my homework on how to obtain a loan under an LLC for an investment property that I would like to buy and rent out in north Florida. 

There is no set formula or math equation or even a good definition. 

. :( The 2nd appraiser didn't make me feel better because his math was awful and it looked like he had to work really hard to jack up the price.

@Kasim RashidBased on what you provided it seems like you bought the foreclosure on the firstNow what is not on that report is any water sewer or utility liens or potential code violations which could attach to the propertyI recommend before bidding at foreclosure to do your due diligence and home work

You still need to do your homework because they generally have one objective only, to make you buy so they will tend to embellish the situation the same way the developers do.I have a few things to finalize before I can send you the info on my own development but it shouldn't be that long.

I never ran the math.. but one thing I do think is a 27k little rental in the mid west probably would not have made us that much money in cash flow and appreciation over the same hold period and we just mowed it about every 3 years ..

With all the passive income videos circulating facebook and google I can see where selling owner financing could be dangerous for someone but if they do thier homework on the potential buyer and stay with folks that have a proven track record it can work out good for both sides.