Also you will need to set aside money each month for vacancies (1month/12months =8.3% of gross rent), CapEx (typically 275/month) and property management (even though you will managing yourself, you need to be paid)Check this link out for CapEx explanation. http://www.biggerpockets.com/renewsblog/2015/03/03...The deal isn't looking so good anymore is it?  

cool thats good to hear, however the other side of the story thats not really talked about by lenders is that if you have a lot of other properties in the area you are trying to buy a property "in" then it may be very difficult to purchase an eleventh financed property as a primary residence unless it makes sense for your given scenario.Often times this requires:- a Great LOE - letter of explanation- supporting documentation like relocation letters from employers, LOE's from family members, spouses, marriage certificates, mammograms (show increased family size), etc etc list goes on- your  track record with other properties, like did you buy them as a primary then switch to investment properties (underwriters test to see your past "integrity," with mortgage transactions).

He's not in the geographic location you're in, but I imagine you'd only need to talk to him once to grab the contracts (probably don't need to come to his office).  

@James Wise Thanks but I was looking for an explanation to assigning a fee on my deals prior to obtaining my RE license.

Even so, I think they generally trend in a linear fashion and generally nullify each other relative to the ROE issue.I went way over the top on this explanation, but it was good for me.I hope you've also enjoyed it.  

always better to keep your project geographically close, particularly if you are considering flipping a house, which requires far more babysitting.

I would definitely use some geographic analysis tool - which comes handy when looking at these things. it has made my life much easier.

Contingent on geographic area.

Thanks for the explanation.

It's a difficult position to be placed in.I say, let people go kindly, with an explanation as to why you feel as you do at this point in time, and why you need move to a different situation.