It’s a phantom expense that eats your income and shelters from tax.And, looks like it was gifted ?

Guess the investors will eat those.

If any one knows anything I'm not doing right please tag me and Micheal and I will grill you a nice Texas steak or whatever you want to eat. 

@Danny Herrera I'd invest in Pass-a-Grille and give myself a reason to go down there and eat at the Wharf!!!!!

@Jermaine Riggs   Remember the 6PsPrior Planning Prevents P*ssPoor Performance There are steps that you can be taking today that will better ensure you will be able to qualify for the best of terms on your purchase in TX.1. have a Mortgage Broker run a Tri-Merged MORTGAGE credit report and pay the extra $15 for them to also run the "What If" score increase simulator to know how best to pay down debt in the interim2. start eating MREs and saving like a maniac until you close as the more money you can show in reserves Post-Closing, the better the programs you can qualify for.etc,etc,etc,   

I am fairly new to BP, but have been eating up the podcasts, doing personal research, and working my way through a real estate book.

Everyone's got to eat and pay bills and make money and the only way to make money is via someone else, somehow, sooo....

No one said you have to eat the porridge bland, bring out the toppings and seasoning!

You might have to "buy" credibility by jumping on-board with a well-known syndicator/educator.With 250k, that might eat up too much of your capital, so if you don't have a built-in network, I'd go it alone.

As I continue to analyze properties, it seems that the expenses are eating up a large portion of the cashflow, especially when utilities aren't separated.