This is my first investment of this sort and it has not worked out how I originally intended but I am learning from my mistakes and will be making better decisions in the near future What made you interested in investing in this type of deal?

(still took me a few months to shake the bad feelings, though).As to the original question, "yes".

New Jersey is one of the least landlord friendly states in the country - FACT.Liberal policies are not friendly towards landlords- FACTNew Jersey is a liberal blue state - FACTI was nice in my original post.

You’d be able to pull out $330,455, which is significantly more than your initial $236,930 investment.Your Initial Investment Back: This means that in 5 years, you’ll not only get your original investment back but also keep an additional $93k in your pocket.However, there’s a downside:Negative Cash Flow Impact: Over the next 5 years, due to the negative cash flow of $1,229 per month, your total cumulative loss will be $(60,153).

Once you walk a property, you often have to throw your original underwriting out the window.

Your payment may remain about the same as the original deal!

We are looking into getting a fixer upper and plan to rent out our original residence ( Zillow says we can get $2700 median rent in our area ) while moving and fixing up the new house.

I would first separate out the original purchase price between building and land.

We're trying to best screen the applicants and my original standard was 3x monthly income and credit scores of 650+.I recieved my first applicant which is a group of 3 (couple and their sister).

Assuming your property is in Utah (like your profile indicates), here's the state law from a basic internet search:In Utah, a tenant who abandons a rental property without notice is liable for the lesser of the following: The rent remaining on the leaseThe rent plus the difference between the fair rental value and the agreed-upon rentThe cost to restore the property to its original conditionThe landlord can also remove the tenant's belongings and sell them if the tenant doesn't claim them within a reasonable time.