@Patrick Britton I'm currently a Software Engineer at T-Mobile but plan on leaving the industry in a few years to focus on whatever real estate investments I would have accrued by that time. 

I'm probably not going to end up with this one, but out of curiosity, how's this going to play out?

For instance, in my market there are areas you can buy land or a tear down for $400k-$600k, then accrue $1.1M in construction costs, plus soft costs puts you at $1.32M, you would need to sell out at $1.9M in order to make a 30% margin.   

Originally posted by @J Scott:Since I have a professional PM, I just use QuickBooks to track my expenses, and don't need anything else...For example, here's the P&L from one of my rentals that I've been discussing here on BP: Out of curiosity, where do you include insurance in your spreadsheet?

NA Beard Just out of curiosity, why would it be 10?

If the guy isn't paying on the second, he's probably not paying on the first, and there would be accrued interest, penalties, and foreclosure costs due to them as well.I recently purchased a house at auction that had a $600K first, and the outstanding principal balance was over $1MM! 

You would need to pay the liens prior to selling it and usually there is interest that accrues while they are not paid off. 

Right now we only accrue enough cash for a down on one purchase every 12 months. 

I ask, somewhat out of curiosity, but also because I'm trying to figure out how realistic my own goals are.

Under this contract, accrued interest debited on a day will not include interest relating to that day.3.