GeorgeFirst, the 50% rule is NOT an accounting function nor is it anything other than a rule of thumb...That said, the way I interpret and use the rule of thumb -- and most investors I know would agreed -- is as follows:"On average, across a large number of units, a long time period and a large geographic sample, somewhere around 50% of gross income will be used for operating expenses, vacancy/rent loss and CapEx."

BTW, I do know how to use the search function so I'll try and research before pulling the trigger.

The current company i am using Veracity credit, is very helpful, they answer the phone, are professional, and actually function as a business.

Looking forward to understanding the rest of the functionality - now that I'm a member.

Or better yet find someone who has any personal experience with the COB Sale, or anyone who may be interested in a joint venture.As I understand it these properties will be sold free of any outstanding liens, for the greater of 20% or $500 down and the balance due approximately 6 weeks later.I have completed some research/due diligence on the properties that are in the neighborhoods that I am most familiar with and there looks to be some nice ones still on the list (owners have until the last week in Sept. to petition the City to remove their property from the list).Things that I have completed in researching the properties have been:•Current owner(s)•Property class•Tax Value•Last sale price & date•Drive-by/visual inspectionIs there anything else that I should consider trying to determine before the sale?

The home needs to be in good functional shape and appraise for at least whet your trying to sell it for.

Let's also say that the property is fully occupied and functioning.

Jeff,My wishing to make this work serves two functions; neither of which is slimy IMO.First, it reduces the seller's counterparty risk.

@Aly - it's a function of where they're at (rougher neighborhoods) combined with the fact that property in Louisville is historically cheaper than most places I'm aware of.

Basic functionality is free, and a few bucks for auto-start and stop once plugged in the car charger, multiple vehicles, multiple trip types (biz, moving...), and reports that are supposedly IRS-proof.I haven't had a chance to test it yet, though.