Out of curiosity, what expenses did you include to arrive at your "cash flow statement of $650-$1000 per month on just a 2 door unit?

I am wondering just out of curiosity now, how someone would rent a place out and make a profit from it.

Im still learning, so I dont have anything to add, but out of curiosity what is your current success rate with the process you use now?

From my knowledge gained on these awesome forums, and of the local market in general I knew that my landlord had to be hemorrhaging cash on this rental.Finally, my curiosity got the better of me so I decided to figure out just how much.It surprised even me...Purchase price in 2006 = $220,000Rents from my roomates and I = $71550% rule expenses = $35730 year Mortgage at 5.4% interest = $1235-$877 cash flow per month-10524 cash flow per year!

I hope to buy one more in 2011.Her emotions run the gamut from apprehension, fear, and buyer's remorse, to excitement, curiosity, and optimism.

Needs to sell ASAP for the down payment.Seller asks for 90k for home.Appraised value- $139,000.00Proposed offer to seller- $83,400.00Loan to Value- 60%6 -12 months interest only @10% monthly = 695/mo for 12 months = $8,430.00 $91,740.0012% total accrued + principle = $10,008.00 $93,408.00Rent per room @ 480/mo = 1440/mo-695 = 745Rent per room @ 150/wk = 1800/mo-695 = 1105those high rents and weekly rates will work for this particular deal because...Won’t take loan until 3 renters make commitment.Rental is very close to new steel mill.Workers are paying 199/wk at Value Place 45 minutes away.Seller gets daily offers from prospective renters.Workers work 10-12 hour days 6-7 days a week.

Just out of curiosity, why do you think the house needs to be rewired?

Just out of curiosity, if you really have $500K equity in the house, why don't you just go for a quick sell at $100-200K below market value, and pull out $300K in cash.It's not an ideal situation, but given that parts of FL could still see some drop in market values over the next year or two, it may be the safest choice.

Just out of curiosity what city was this rental?

LOL, You better be real familiar with foreclosure proceedings and what you are entitled to.As a note holder, you are entitled only to the par value accrued, the accrued interest, pricipal and allowable fees due the lender.