But come across as a nervous newbie and he may just eat you alive.

Repairs and maintenance of older buildings will eat up any dreams for profit you may have.

full time for 2 or 3 years now...i don't have much living expenses, so after my first flip where i made a subtantial amount of money, i decided t do it full time...i have enough rentals and apartments to keep me eating and surviving between flips :)

WHATEVER to pay their bills.Even if they move out as long as they paid me and couldn't pay utilities and run out of money at least I got mine.Let the utility companies eat their bills.When collecting the people only have so much money.

Learn the 50% rule... essentially says long terms all your expenses short of direct debt servicing will eat up 50% of the optimal GOI on a rental.Then learn about Cash on Cash.

That says that over the long term and for a number of properties, expenses (you've listed some of those), vacancy (not included in your calculations) and capital (also not included) will eat up 50% of the scheduled rents.

The outlined it as getting your cake and eating it too.

Condos have a couple negative aspects. 1st, the condo fees, which will never go down, eat into your monthly cash-flow.

Typically, you can't resell quickly, so holding costs can potentially eat up any profit you would otherwise make.

If I can't find one, I'll just eat the taxes and save my money for another downturn and buy up real estate again during that time.