The business is so much easier once you get rid of the debt.Other people may think it's more or less but that is what happened in our portfolio (adjusted to your figures and excluding commercial) over 2 15 year periods from 1990 - 2005 and 2008-2024.

In the appraisal report I noticed that the appraiser does adjustment in the comparable price depending on the sale date.

@Ian Hoover You still had to pay transfer tax on the adjusted assessment, didn't you?

in SD deals only work if you put over 50% LTV and at that point there are so many other assets that IMHO give a better risk adjusted return. 

But, if you are not a professional REI, one adjustment I would make to what Katie wrote is that you would report the income (and deductions) on Schedule E (for rental real estate) since it is passive income, and you wouldn't use Schedule C. 

That's why you always have to anticipate these nuances and build them in to the asking price from the get go.My 3 cents worth adjusted for inflation.

For instance if you have agreed on a sales price of $200,000....see then if the seller is willing to adjust and go for a deal of $206,000 with a $6,000 seller subsidy.

Original mortgage is an adjustable rate mortgage.

Were lending (and thus demand) not constrained, you could easily see today's $150 Thousand dollar home priced well over $1.5 Million.The ONLY option available to the bulk of the remaining working-class Americans is renting - getting a loan+mortgage to buy their own home is simply not within the realm of current economic reality.RE agents and brokers would do well to get up to speed on investing and develop working relationships with investors since we will be doing the bulk of the home buying for the short-term future, the next 10 to 15 years or so.Now, that said, if you have such easy access to cash that it indeed does seem "too easy", you are indeed a rare individual.

There is an option for a retention pond and also there is drainage the city needs to clean out to speed flow that could very well help.