This is unlikely to be profit, this is to cover your costs on the backend at move out.Secondly, find a good pet addendum and have them sign it.

I own a profitable property for my first purchase.

With a cash flow of $6,600, an 11% cash-on-cash return, and an 8% cap rate, you’re seeing good profitability.

However, employer profit-sharing contributions (up to 25% of W-2 wages) are not subject to FICA taxes and do not appear on the W-2.To stay IRS-compliant, ensure your Form W-2 and Form 941 properly reflect deferrals, and maintain a reasonable salary to avoid red flags.

When making offers I want to utilize the standard 70%-ARV-Profit formula.

If youre going to engage with the darker side of the system and profiteer off of the downtrodden, youd better get more crafty. 

Thats a great profit for a first time. 

The key is making sure the deal’s numbers work, your profit should justify the higher cost of capital. 

The profit that you will make from real estate will be life changing, not the 10k or 50k a year for a couple of years.

What would you do in my shoes  If you are talking about $90k profit before transfers in Cumberland...without question id sell it instead of holding it.