We are surrounded by abbreviations.

- I'm unfamiliar with the abbreviation.

Thanks Jon,Sure, I can give an abbreviated cost breakdown, with a quick summary of what & why.First, bought this house in April of 2011.

There are reserves for repairs, reserve for vacancy, reserves for "CapEx" (abbreviation for capital expenditures), reserve for anything that comes up in the future.Let's say I estimate that $65 every month goes to the water bill and only $50 is the actual.

Hi All,So here is the full story, abbreviated version:- Tenant A brought girlfriend over to the house, Tenant B brought friend over to the house- Girlfriend and friend get into physical altercation, both asked to leave for a month to cool off- Tenant A broke agreement, girlfriend still coming over.  

We already knew that and it has been very well documented.One of the big reasons why this was allowed to happen is that the companies providing these loans not only had no incentive to make good loans, they had plenty of incentive to make terrible loans (or, just as many loans as they could) because the entity they would sell their loans to (Bear Stearns, Lehman, etc) wanted not the yield from individual mortgages, but the ability to package lots of mortgages into some three letter abbreviation (MBS, CMO, CDO, etc) and trade that product as an asset backed security.

So I sent the PM and his acctnt (how do you abbreviate 'accountant'?)

Slideshare gives you great information in an abbreviated format.What is Slideshare.net.

My takeaway's:1) I can and SHOULD be doing this2) There is always more to learn3) I should tighten up some of my systems to protect myself just a bit more4) Every deal will teach me something and make me a better investorSo that's the very abbreviated version of my first flip!

My plan (abbreviated) is to find plain but nice homes in decent areas, (not "high end" areas, just decent, where the shrubs are trimmed, older established people live, etc.) single story to appeal to older folks, close to shopping, etc. -- neighborhoods vs. busy main roads -- buy so that I can charge approx. 1% of purchase price for rent (ex. 80K house, 800-850 rent) tenant pays everything (heat, elect, etc.) - I own a lawn care and snow removal company, so I can offer my services there.Nice little ranches and capes around here, with vinyl siding, fairly recent furnaces and roofs are anywhere from 89-110k.