She paid $750K -- yeah, expensive which is why I look in other parts of the country in addition to San Diego) and dropped another $50K to reno everything.She had a professional photographer take photos and she put it up on AirBnB at a competitive price but she got ZERO rentals in over three months while she had to make $15K in mortgage payments.One Saturday, we were watching our USC Trojans get whipped by Notre Dame with a bunch of friends at a local La Jolla bar.

This property was an off market deal owned by someone my realtor knew that fit my criteria for a fixer upper in the location I wanted (near Notre Dame).

I live in a college town (South Bend - Notre Dame) so it may be a good market for out of town investors.  

I live in a little city called Goshen, about a half hour from South Bend and the University of Notre Dame, two hours from Chicago and about three hours from Indy.

Even the Hunchback of Notre Dame got some respect and love for who he was!

Notre Dame HS.

I'm closing my first deal near Notre Dame and I want to protect my personal assets from any lawsuit that may result from my rental.  

@Jd Martin   Carl and I  had lunch the other day up at one of his retro fit projects.. he likes to buy old commercial in towns that are revamping then he ends up with the old grand dame of the community and gets as you can imagne extreme good will from the community.well in the city of St.

.- 3B/1B, 1,080 sq ft- Up-and-coming semi-urban neighborhood with lots of city plans for high-end retail and apartment development about a mile from Notre Dame University.- Taxes: $500/yr- $850/mo = market rent- 10% property management = $1,020 (we currently manage ourselves but plan to hire-out management when we get to about 10 properties - we currently have 2.)- 2% vacancy = $204/yr- Insurance $500/yr- 5% repair budget = $510/yr- Cap ex of $120/mo = $1,440/yr- Mortgage terms: 25% down, 15 years at 5% interest.I tried to be conservative with these numbers and cover our rears.  

Regards,Daming