you're right - with debt service over 2400 - and revenue at 2800 - it's not that good - it's a freakin aligator - it will eat you alive.however - you need more information.

I'll eat that house stud by stud before he gets over on me!

:D I pretty much only sell to investors, and they have to have cash, hard money, or a commercial loan.Most of the rehabbers I know just end up eating it in holding costs until the seasoning is up, but obviously as you seem to already have caught on, there are other creative options.

People eat that stuff up, and you never have to deal with "toilets and tenants" again.

I mean, I don't know the guy who said "don't eat yellow snow" but it sounds like good advise to me and I follow it religously!

They make no noise, take up little space, eat next to nothing, and it's not like they can run away.You said: "I have heard of many people going this route in purchasing a home.

- if I will fail, he is going to eat me with my bones.

Now, it's a matter of dog eat dog.

I use most of the positive cash flow to eat, pay my bills, pay my mortgage, go camping, etc.

The down payment on 400-500K will eat up all savings and leave nothing for reserves to cover the unknown once we get in.