I graduated from Texas Tech in 2011 with a Bachelors in Business Administration and went to work for a mid-major commercial contractor out of school.

more information:Purchase price: $470,000Less Vacancy: $8,793Total rental income: $66,645Plus utility income: $8,500Effective gross income: $75,145Less expenses:    Repairs: $7,280     Payroll: $3,380     Administrative: $1,170     Marketing: $234     Professional fees: $1,102     Utilities: $10,522Total expenses: $23,688      Taxes: $1,339      Insurance: $1,394      Management fee: $4,509Total operating expenses:  $30,929Net operating income: $42,915Does this look like a good deal?

I hope for your sake you still have lots of income coming in.2) Already stated, but you don't get the benefit of depreciating your assets.3) You can do nothing more than manage your properties administratively.

In addition to utilities, taxes, insurance & {possibly HOA fees}, you also have administration (accounting, advertising, legal).  

I would really appreciate any feedback you could offer.Purchase price: $470,000 (cash)Less Vacancy: $8,793Total rental income: $66,645Plus utility income: $8,500Effective gross income: $75,145Less expenses: Repairs: $7,280 Payroll: $3,380 Administrative: $1,170 Marketing: $234 Professional fees: $1,102 Utilities: $10,522Total expenses: $23,688 Taxes: $1,339 Insurance: $1,394 Management fee: $4,509Total operating expenses: $30,929Net operating income: $42,915Does this look like a good deal?

Typically you can make an arrangement with that debt collector to run the administration of the collection for around 35% of the gross proceeds.  

I just don't know how to get out of this hole..The debt we have is from cars we've bought and were unable to keep up on payments and the rest of the debt from @6 years ago being irresponsible but that was the past.We both have great job experience but the careers aren't ment to support a family.Before my kids I worked as a Administrative assistant for Barbizon modeling of San Francisco.

So any major repair that is foreseeable should be addressed as an administrative/management burden.  

But again, you must show the additional office outside of the home is absolutely necessary for administrative and purposeful reasons.

Word Press.