High electricity bills in peak summer months run around $150.Asking price for the unit is $8,000.00.I would like to start a brainstorm session on the good, bad, and ugly of this scenario.

Rent increased to $2,325 for year 2.Assets:Cash$54,900 (Year 2 Net Operating Income: $935/m)Fixed Assets:Condominium 1$455,000Total Assets:$509,900Liabilities:Accounts Payable:$33,360Notes Payable:$125,840Total Liabilities:$125,840Owner's Equity:Retained Earnings:$54,900Common Stock:$455,000Total Owner's Equity:$509,900Net Worth:$384,060…and so onAlthough not real, this is just an example to illustrate what I naturally do.I understand how rough this is as I didn't include depreciation and all that fun stuff, but do any of you brainstorm storm like this when trying to see the big picture?

Just brainstorming, that is probably not the best way to go about it but they may not know the down payment came from a LOC, then again they may not care since the down payment is secured by another property.Paul

Go for it if you're willing to take your time show off your craftsmanship3 - Think about bartering with skilled workers (just a wild idea).Hope that helps your brainstorming.

Just brain storming here.Best of luck!

I have suggested 4 names which were visionaries, masterminds, brainstormers and warriors.

Thanks very much Mel.I couldn't agree more - this site is 24-hour access to some great advice, input, brainstorming.

It takes about 15% to resell and hold a property and if repairs are more than 5% then you are in the hole.I have brainstormed several ways to possibly "partner" with sellers, but I haven't put any of them into practice.

Who will all be sitting around brainstorming about ways to get money from others while having drinks next to your stairwell? 

For me the value is in looking at all possible plays and exit strategies and getting to brainstorm.