To make a long story short I ended up getting stuck with all debt that we had accrued during the marriage.

Equity accrued is $944, for a total first year ROI of ~13.8% ($2,756/$20,000).

I found posts like this to be helpful when I was first learning about investing in real estate, so hopefully someone on here can get something out of it.Our goals were to cash flow $100 per month per door, have a cash-on-cash ROI of 12%, and achieve a total return of 20%.Purchase price: $179,900Our loan is a 30-year fixed rate residential mortgage at 4.25%25% Downpayment: $44,975Mortgage Payment (Principal & Interest): $663.75Operating Income$26,435 scheduled gross rents (4 units)$(1001) vacancy$600 garage rent$11 interest$26,045 gross operating incomeOperating ExpensesProperty Management (10% of gross rents): $(2543)Leasing fee for new tenant placement: $(550)Sewer: $(1397)Water & Trash: $(1232)Lawn care/mowing: $(350)Gas & electric during vacancy: $(228)City occupancy inspection aka government extortion fees: $(183)Maintenance & Repairs: $(3594)Property Taxes: $(2009)Insurance: $(983)$(13,069) gross operating expenseNet Operating Income: $12,976Mortgage P&I: $(7965)Cash Flow Before Taxes: $5,011Cash-on-cash return: 11%Equity Accrued: $2275Total Return: $7286Total ROI: 16%We hit our cash flow number almost exactly at $104 per door while our ROI and total return came in a little under our projections, but pretty damn close.

If it’s a judgment I’m guessing you may have been accruing interest or fees for these last years since you haven’t paid it.

Qualify today and enjoy: Introductory rate of 1.90% APR for the first 6 monthsVariable rates as low as 4.00% APR after the introductory periodBorrow up to 95% of your home’s valueInterest-only payments during the draw period (minimum of $10,000)Credit Lines $10,000 - $350,000*Upon expiration of the introductory rate, all balances will accrue interest at the variable APR (Annual Percentage Rate) in effect for your account.

You need at least two years of sales person experience (and accrue enough points) or three years of general RE experience to even apply to get the broker's license in NY.  

Just make sure to pay it off monthly so you don't accrue interest and get into trouble with it.  

And be sure interest continues to accrue until paid. 

Often the timing of recordation or the date the obligation accrued is paramount.Without jurisdictional info and a title report (including all taxes, judgments, perhaps more), nobody here can give you an answer.

Points charged on loans (% paid up front at closing, basically an origination fee) and interest rate..usually closer to 12% when you're starting out.Payment schedule - most will expect monthly interest only payments, but some will let it accrue and settle up at closing.Minimum loan amounts - if they only loan in amounts of $200k and up, then you're wasting your time shopping for $150k properties.Doc prep charges and other hidden fees (preparing the mortgage and note is a necessity and you'll have to pay for that, but watch out for other hidden fees).