Or they held long term and it all worked out in the wash (not optimal but still they made money).

So, while waiting for the price to get back to where it was, he will likely lose $33,000 plus will need to renovate the place before it can be sold.

I hear from behind "dont worry about that, the washing machine leaks!"

I see everyone's point though and ultimately for the amount of the fee versus the cost to ensure payment, it's a wash.

the girl wants to lose the roommates though. we probably gross about $5200/mo together.i was considering losing the roommates and downgrading to a 55K condo (900 sqft), but i think the double closing costs to get there washes the deal.but being able to invest the 11K each we would have left over after the switch certainly peaks my interest. . .i would suggest to you to buy what i would in your situation: the least amount that makes you happy, no marble mansions necessary.

In addition, millions of newbies and wannabes have already been washed out of the market with the demise of the "flipping" fad (and lost a bunch of money in the process).If you're trying to improve your mortgage business and have money to lend, then I would suggest joining your local REIA and talking to the SUCCESSFUL investors.

(i.e. laundromats, car wash, etc.)

Pretty much whenever I do laundry water leaks in the floor on the other side of the wall.

I did look into renting some property out to a farmer...or even growing something myself....but when an older man that has been a farmer for years looked at it he said it was too rolling and most things would wash.

List price $440,00016- 1 br units; one building; upper and lower units1 vacantOn site leased laundry (2 machines)Landlord pays water and gasTenants pay electricRevenue per unit(stated):11 @ 4151 @ 4402 @ 4301 @4201 @ 410Laundry $1100/yrTotal Rev $81,320/yrExpenses (stated):Gas/electric $8626/yrWater $4300/yrTaxes $8000/yrIns $3000/yrYard Maint $1490/yrTrash $804/yrTotal Expenses (stated): $26,220/yr (well below the 50% rule)Tax information: last transfer 1999; 54.2663 mills for non-owner occ.; current SEV $162,400; taxable value current $145122From the listing agent: Nice old lady has owned them for 30 years; built in '70's; currently has one vacancy; all units are 1 yr lease; half of tenants have been there for a very long time (years); other 8 units turn about 1x/yr; great neighborhood; upscale community; walking distance to downtown; roof is 4 years old; hot water heat (LL pays); "A" propertyHave not seen the inside yet, from the pictures I've seen the kitchen/bathrooms are outdated.