Gross Rents: $1,100Operating Expenses: $550NOI: $550Mortgage (70K, 30 yr, 7%): $465Cash flow: $85 per month, which is $15 lower than the minimum I will accept.Finally, you said that the property is in a "war zone".

Is anyone purchasing in the Detroit market these days (in the nicer areas, not the war zones)?

I know numerous others have, too, because some of the ones I've made offers on are now fixed up and occupied.

STRONG Religious views start wars and ward KILL a lot of children and COST OUR CHILDREN Trillions!

Karl Polanyi in his book "The Great Transformation," written in 1944, laid out the devastating consequences—the depressions, wars and totalitarianism—that grow out of a so-called self-regulated free market.

I do know, from having made offers, that I have had to sign numerous papers, including mold, pool safety, lead based paint, etc, and a lengthy purchase contract.

One would think the bank's realtor would let us know if they did in hopes we'd get into a bidding war.

I think I am familiar with market values for my area in regards to what I am looking at, but with such fluctuation and bidding wars going on I think it prudent and frankly interesting to pursue this question.

After helping numerous investors from all over the country accumulate wealth the old fashion way, I finally made the leap myself and haven't turned back yet.

But, hey, we survived two world wars and Jimmy Carter, we can survive the socialist triumvirate of Pelosi-Reid-Obama.