You estimate $200/month in non-debt expenses.....and you have arrived at $300/month free cash flow for the 3 rented units.

Comp it out and go with your cash return requirement to arrive at a value, if it isn't close, move on like all the other investors apparently have done. :)

Should be arriving within the next day or so.

Hey everyone I am am new here (if you couldn't guess) just wanted to let everyone know I have arrived.

I cannot be at each site to make sure each employee arrives on time.How can we keep track of when they arrive and when they leave?

The idea is to cover one's nut and not have to lose anything, maybe god forbid have positive cash flow. ..then arrive at the end point of owning things outright.

If the borrower defaults after enough payments have been made to recoup initial purchase, then the warranty makes no sense.Now, how I arrived to 5%:Initial investment: 22900Sum of 357 payments of (293-15): 99246 ($15/mo is charged by FCI to service the note)Annual interest rate: 1-((99246/22900)^(1/29.75)) = 0.0505 or 5.05%Here is a screenshot from a calculator (http://www.pine-grove.com/online-calculators/roi-calculator.htm)

Then you can use the appraisal the same way I suggested you use the tax assessor numbers.Don't be surprised if the appraiser looks at the high cost of vacant land to arrive at the same (or nearly the same) ratio of land/improvements that your assessor used.Even if you use the numbers you have, 110K in depreciation over the course of the next 27.5 years is sheltering 110K in net rental income from your income taxes.

When I asked her how she came up with that price, she told me that it was a sellers market so she arrived by working back from asking price.

Hopefully I can confirm this when they arrive.