Because of this I would calculate as $1,500 per month times 12 multiplied by .5 divided by a 10% cap rate or $90,000.This creates a value of $302,000.Please heed Christopher's comments. 

–Christopher ColumbusThe best revenge is massive success.

–Christopher ColumbusThe best revenge is massive success.

@Christopher Verissimo Welcome to BP!!

I really like it here and hope to never leave.HI @Christopher Jackson .  

Thanks for the info Christopher.

@Christopher Schmidt thank I will look into that area as well..I thought it over and I'm going to invest in the 19 ward location get a few there and for every 5 i buy in 19 ward or good area ill buy one in the ghetto...Ive had many bad PM so I know what you mean..I talk to the marshall and he recommend me 3 that he thought we good to work with so after that I've saved a lot on repair so far I've gotten no repair cost for 9 months.. and my property mangement charge he 65 a month i set a contract with them that ill like then to notify me over any repair offer 50 dollars because of all the headaches I've had with old PM..

Name is Christopher Jenkins, I became an active real estate agent March of 2013, since then have sold over 70 properties, many being REOs to investors. 

@Christopher Gilbert because IRA is considered 'tax deferred' account, there is no tax benefits such as depreciation deduction when you buy investment property inside of it.

I think @Christopher Gilbert had great advice about selling your condo and and buying a new place to rent out down the road..