Gross rent multiplier (GRM) A method that divides the purchase price by the gross annual rents when the property is 100% occupied.

You should be able to do a pretty decent update with $50k (purchase price not included).

How we purchased our property: Combination of Savings, Personal Loan with interest from a family member (4% interest) and a cash loan from Wells at about 8%.

And maybe I am misunderstanding something but if they purchased the property from me, take over taxes, insurance, and HOA, wouldn't they be on title?

You can purchase a cheap camera with a built in cellular connection: Cheap 4G Camera All this needs is a SIM card.

Here's the key components to calculate your tax liabilityAdjusted cost basis - Is the purchase price, plus capital improvements, minus depreciation.

I have never built anything, only purchased already built properties and I need some advice.Thanks!

Where are you looking to purchase in?

In the Bigger Pockets free book, "Real Estate Rewind", as one of the 11 co-authors I wrote about one such Tax Sale purchase and made money but not enough money to warrant the risk involved.

Purchase price: $415,000 Cash invested: $90,000 MY FIRST RENTAL PROPERTY !!