I hope to meet @Dawn Anastasi ,@Jenkins Ramon , @Dave Carpenter and maybe @David B. too at the next Milwaukee meet up.

Be careful of the advice Bill and Dawn Twyford (investor's Edge University) give you.

The house is supposedly worth about $56K, although that's only based on internet appraisals and not a real appraisal.I actually have too much going on right now and am not really set up in Detroit with a team, so I will probably back out of this deal, but if you're interested let me know and I'll connect you to the wholesaler that brought me the deal (for no charge).Dawn

So, then it dawned on me that when Josh corrected it, the original sentenance no long appears.

@Dawn Anastasi Nice to meet you as well!

After listening to the Podcast, it dawned on me that that's just year 1 cash flow I"m looking at.

But @Dawn Brenengen is correct. 

Originally posted by Dawn Anastasi: If you're using this money as a down payment only on a couple properties, then you'd have liens on them and therefore possibly could refinance, but it would be costly to do so as the lender would hit you up with fees.It would only work if he has equity that he can pull out after 6 months.

@Dawn Anastasi - There really isn't a way for him to sell them off and come out ahead.  

It dawned on me a few months ago that I would never feel fully prepared; that's just the nature of some things.