:help: :help: :help: 485 sq ft Studio in apartment turned condo, in community that rents at around 95% occupancybuilt 1983, updated in 20031/4 mile from Palms CasinoSales price 110K, 10% down required11K cashback at closing, if financing is done through preferred lender (covers 10% downpayment)Management takes care of all internal repairsCurrent tenant renting at 605/month, on lease through 3/1/08Developer offering leaseback of 770/month + no HOA fees or Mgmt fees for 2 years (guaranteed to net profit $90 per month after taxes for 2 years)After 2 years, owner receives whatever property rents for, plus is put in a "Shared Rental Pool": a quarterly check of [Going Rent of all comparable studios in community]X[% Occupied in community]-[losses/improvements of the community].

There is a book called ‘Flip’ by Rick Villani and Clay Davis.

For example my loans are currently a quarter plus prime which is 8.5%.The interest only loans I use fit my game plan.

Borrowed money is expensive money, and don't tell me about "tax breaks", paying a dollar to save a quarter ( doubt if you're even in the 25% tax bracket) is FOOLISH.

Recession being defined by 2 quarters back to back where the economic production of the country decreases.

Reality: Foreclosures will increase through first three quarters of 2008.

Stuff happens.You can pull the offer and then submit a lower one or something similar to get there attention.At the end of the month or the end of the financial quarter they bank might be more motivated to get a deal closed.

The larger acreage has an older abandoned restaurant and a 5 room + manager's quarters motel with 2 squatters.

If this area has quarter acre lots 90' deep, the lots would be about 120' wide.

When you take into account the fact that General Motors and Ford BOTH turned a profit last quarter for the first time in a long time, you begin to see that the real estate market in this area is not as it seems on the surface.