Just wanted to throw this idea out there.

Once again, it reminds me of the internet boom days where people were bragging about how much money everyone was making by throwing a dart at the stock listings, and we know how that turned out.

A good friend of mine started flipping 15 years ago, he said the last few years have been the most difficult now that everyone has decided they will throw their hat into the ring.In saying that every time I talk with him he is flipping around 30 houses for himself and investors, he also holds around 12 properties, and has more than enough money, to the point he just does it to keep himself busy now.Yes there is money to be made but heed James' words.

I mixed the two things with too little explanation.If someone has the cash just under the pillow and don't use it otherwise, of course paying off the mortgage makes sense, because the pillow has negative returns due to inflation.But if you have the cash and have other investment opportunities, you may get a better return than paying off a 3.2% mortgage, such as the stock market with a much higher avg. return in the long run.

Throw on top of that your involvement in the tenant selection process or actively engaged in rehabs by purchasing fixers that you make ready to rent.It is not necessary to manage your own properties, but it makes it easier especially when you only have 1 or 2 properties.Bottom line is it is a judgment call what level of activity constitutes "regularly involved."

Had the underwriter not agreed to throw out that second appraisal and had logged it into the FHA system, you would have been screwed...that appraisal (at your purchase price) would have stuck with the property for any FHA resales for 6 months.You've absolutely proven the point I was making above -- the only difference being that you got lucky that the underwriter was willing to be reasonable.

His over the top gestures, and lack of ability to control himself, over Paul Ryans cool, calm, well thought out answers, shows very clearly that in terms of negotiating with Senate and Congress that Paul Ryan, on behalf of Romeny and the people, could sit down with the Dems and negotiate compromises.As for the abortion issue, that's just a red herring that the left throws in to get all you riled up, as Roe v Wade is the law of the land, and it's not being overturned.

After you've painted an area, you throw down the speckles (reminds me of confetti) & it looks sharp.It took me about 3 hours to do the project.

From another standpoint, you will have a tenant who is obligated to stay in the property for another 8 months and you want to throw them out?

There are investors that do this kind of thing with HUD homes as well.They sign paperwork at closing that they are occupying the property.Another component of this is fraud to a lender on a loan if you say you will be living there.The reason is lenders give certain rates to owner occupants because statistically you will fight much harder to keep a place you live in.If it's just a bad investment it is easier to walk away hence a higher rate and more down.This property from what you said is 2,400 X 12 = 28,800By half is 144,000 at a 10 cap based on 50% costs.The carpet and paint the bank put lipstick on it it appeal to a home buyer living in one unit and driving the price up.On a quad typically you could expect about 8,000 for the siding,4,000 for the roof,6,000 for 4 outside A/C units,if interior bathrooms and kitchens are outdated about 4,500 by 4 units is 18,000,then water heater and heater about another 6,000 total.So conservatively I have about 42,000 in immediate CAPEX.Every areas cost is different so I am just throwing mine out there.Now the other you say 20 quads total is what you need to worry about.If there are a bunch of short sales and foreclosures from vintage 2004,2005 loans then the new purchaser with a cash offer or a small debt service will rent below market to fill quickly and turn more or the same monthly cash as you.So you starting out at 600 rent monthly might go to 550 or 525 in your development.I have seen this happen.I have also seen even if your building is well kept quality tenants do not want to live next to the other buildings where landlords put in suspect tenants to fill up.Also some landlords with high debt service will drop rent instead of repair to keep tenants so they won't spend tens of thousands out of pocket to rehab.