There are no penalties when you file an extension.

Again, here is where Realtors can be invaluable, because you will spend less time bringing Realtors up to speed as they already have had extensive training.The good news is that there are plenty of people willing to be bird dogs.

Get hard comps on both the retail ARV and the rental rates (look online, look in the paper, and call 'for rent' ads).I have done 5 rehab deals, most of them extensive.

D asked to have it deleted: requires me to pay to the broker 6% of purchase price if Seller agrees to sell, or transfers the title of all or any portion of the Premises to any governmental entity resulting from an actual, claimed or threatened taking of all or part of the Premises by the governmental entity pursuant to its power of eminent domain;(that's not even on the listing agreement of another co, but the other4 are...)Section E modified to read: Section E Now reads: Seller shall pay to the Listing Broker 6% of final sales price ifDuring the term or Extended Term of this Agreement, a sale of the premises to a qualified buyer is prevented by Seller, (modification follows) unless the Seller dies or becomes incapacitated as determined by her primary Care physician.She has in the extension that I will sign a 3 month extension.

A friend of mine who used bandit signs extensively quit doing so because, she said, the signs were ripped down nearly as fast as she put them up.

Learn everything possible, read this forum extensively for it contains exceptional real life wisdom of real estate.

It may be less if you have some cash invested, but you still want to consider getting a return on that cash.At $1200/month, with 50% for expenses, its break even (look in the landlording forum for EXTENSIVE discussion about expenses.)

I have had them run gas and water line extensions to connect, and it's usually easy to get a $500-$1000 up front "decorating" incentive from them to organize and spiff up the area you plan to install (by signing a 5 or 10 year contract).

Hire a management company to take care of any properties you buy - but do extensive interviews first.

1099 form....www.irs.gov& FYI in my humble opinion(imho) as a former Multiple Business Owner(simultaneously) U need 2:1-Hire a Book keeper/CPA w/extensive familiarity with our business (RE & MB'ing)2-Hire a "Managing" broker w/ a MINIMUM of 5-10 yrs exp.