of obtaining a LOC from a local bank Looked at over 40 properties for possible rehab or rental.Spent 3 weeks going round and round with HSBC on a duplex only to end up where we were 2 weeks go with negotiations-even after they called "highest and best".

Unfortunately I think you will find that section 8 cares more about their tenants than the landlords.I have gone the route before of section 8 violations and the case workers do nothing.You simply have to evict the section 8 tenants.Mine not in compliance went voluntarily.It was a case of one great tenant next door had a small child care facility of watching 4 to 5 kids.The section 8 next door that were inherited tenants I received upon inspection had a pit bull and a rottweiler.They were told that was a violation of their lease.We evicted and they said they had gotten rid of the animal only to find they were hiding it and was back again.The parents dropping off the kids were scared of the pit bull for the day care next door.This tenant also had a portion of utilities they were responsible for after the voucher paid.They went round and round not understanding why they paid the difference etc.I can tell you when you look at section 8 it is great as long as you pay attention to the voucher.If you want to rent for 800 and the voucher is for 500 then don't do it.They simply will not make up the difference.If it's only 50 bucks they have to come up with then they can usually pull it off.Section 8 inspectors are real picky on all the things they want fixed before you pass inspection.If a tenant wears down a property heavily each year and you have to put a ton of money in to pass inspection each time that is a consideration.Don't be quick to evict the other regular tenant.You have to treat them like a person with a mortgage falling on hard times.

One of the best places to start out is the chamber of commerce, and especially the Hispanic chamber of commerce if you were in Austin, to start meeting the people who make the local world go 'round.

I've decided to take a trip over (march 1-4) to have a look round, so I will take it from there.

So, less closing/selling costs and the cost of borrowing the money (just for round numbers say another $20k), I can expect to see $20k profit.The second question is, what is the maximum ARV on the house I could reasonable expect to get?

It is the learning experiences that will make you a smarter, more profitable investor, you now have one under your belt, why not go for round two and generate some more working capital so that you may buy more rentals!

The house is 1.25 miles from water (charter fishing/kayaking/beaches) all available year round.

To become a well rounded wholesaler, you have to be able to make different offers..

I'm not sure it the calculation is to the day or rounded to the month, though.

Rounding that payment up some nominal amount each month also will shave another few years off.