It turns out there were some title issues, so they couldn't close within the required timeframes of the contract.

You're missing the other 15-20% in expenses that the property is going to cost you.

I would be happy to plug the numbers in for you and show you where you are at on your deal.I can tell you that your purchase price and the number of units places you at $10,000 per door which is extremely inexpensive and gives you a very high cap rate even if the OE is 60% + 15% vacancy.

You should have a time frame for closing, with a max of, imo, 45 days.

Not every case will require 50% in expenses, you may be a little bit better off, but it would be a very , very good idea to have atleast part of your income go to a repair account.I have 2 individual properties, a SFH and a Multi-Family property , and I would say expenses are right around 50% of gross income.

Obama along with Pelosi and Reid can undoubtedly destroy the country in the fastest possible timeframe, so that will lessen the time until we can start over.So, my candidate will not win, regardless of who wins.

Thanks Andrew, do you know a company that prints bandit signs that are fairly inexpensively?

Is their a time fram that is better then others to send send out a letter?

The engine will have problems in Your wife's car, tenants will move out in Your other rentals, prices will go up for repairs, hurricanes will come....blah,blah,blah....figure DOUBLE Your original time frame on repairs, ALWAYS.Figure 1/3rd higher costs than quoted estimates, BORROW accordingly.BE the BOY SCOUT.I have, I PREACH it to my borrowers/buyers/investors, & every operates under the "Be Prepared" philosophy;Do these things, & I doubt You'd ever have a "catastrophe".Trust the experts & LET them do their JOBS!

Very inexpensive and we do not follow up because we have so many leads to go mail out to.