We also live in a relatively steady appreciation area.The HELOC will also eat into your cashflow.

She was 14 1/2 which is pretty old for a German Shepherd.Anyway when we went to pick her up the vet said that she had been having a real difficult time since the previous day, harder than usual getting up and unable to eat.

BTW, here in Ohio (where there is still a little common sense), we know that children shouldn't eat lead paint; that every house has a little mold; that you shouldn't sniff asbestos; and that a little blood isn't reason for panic!

Maybe this area is just weird but there's no way I could make over $3,000 a month renting out a $260,000 property, so there's absolutely no way I could have a profit on a schedule E at the end of the year.

Sort of like the old joke, "How do you eat an elephant?"

If rent is $900/month, then expenses will eat 50% of that leaving you an NOI of $450.

my sweet innocent tenent never cleaned a thing in 9 months , she stained the carpet , it took 26 passes with a steam cleaner to get the carpet looking like new , she kicked a hole in the wall , these are just a few things , total 1,500 dollars worth of clean up and damages, she paid 400 for security deposit , do i send her a bill for the difference or do i have to eat the diff, i took pictures before she moved in and of all the damages after she moved out , :shock:

You can find tons of properties around your market that actually make a good cash-flow . . . why "eat ****" on the hope of appreciation?

Those finance charges will eat your profit, unless you are doing a cash deal.

Now a year + later, I'm in a position to where the payments are eating me alive and I've had to dip into what savings I have left just to keep payments current.