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.

John Corey"An appeaser is one who feeds a crocodile - hoping it will eat him last."

Dont know how long I'll be here but, a guy has to eat so I need to learn Alabama fast.

That'll eat up most, if not all of the equity.Although I've foreclosed on a few of my seller financed first mortgages for as little as $1100 I have no reason to doubt those figures. 1.

If you keep doing that step over and over in the right direction then your success would be assured. a)How do you eat an elephant?