Hello RE Prospector,Ryan speaks the truth.

Now lets be truthful here, I don't want to go to a BAD neighborhood just to rehab and profit on a sale.

G'day,Just a word of advice, don't get to caught up in all the market talk, agents say this and that, the news reports this and that.The truth is, the money is in the deal...If you find the right deal, stick to your plan, the money will be there.

LOL, Mike, your big stick of truth really hurts sometimes.Buyandsells, Mike is sharing some excellent insight with you. 1% of the value for gross rents doesn't work to cash flow unless you are putting down a large down payment.

If the owner holds it personally, then the income and expenses should be on the Sched E of his/her personal return, which he could give without revealing other personal data.In whatever form the owner gives you income and expense info, I would attach that info to your offer to purchase along with a stipulation that the seller warrants the accuracy and truthfulness of of those representations.

Minna,The truth is that many deals fall through.

Man I get so PO'd when I read Realtor and seller ads, either in the paper or on Craigslist. I just saw another glaring example this mornings or an agent/investor selling 4 rental units with the following (paraphrased)...

The truth is that the vast majority of newbies fail in a short period of time.

The sad truth about starting in this business is that we often don't know what we don't know.

The truth is that the majority of new landlords fail in a short period of time.