The second year we only spent $25,000, and achieved our original goals.  

I made a relatively low offer and after one negotiation we settled on a price that was about 45% lower than the original list price.

Originally posted by @Jennifer McCurrach:One PM takes 8%, one 6%.

We're trying to best screen the applicants and my original standard was 3x monthly income and credit scores of 650+.I recieved my first applicant which is a group of 3 (couple and their sister).

Depending on the lender (bank or alt. lender) you have to look at origination fees....points, doc prep, interest rate, frequency draws are allowed/min. draw amount allowed per request, interest payments vs. interest reserve & whether interest reserve is capitalized to fully understand the true cash requirements.

Because the extra family members weren't on the original eviction, I had to wait another 3 months to get them out. 6 months altogether. 

I'm originally from Nebraska (Omaha/Lincoln) where most rentals still pencil out, so I have been looking there.

Originally posted by @Kenneth Bullock:@Mindy JensenryrfWhat does this mean? 

My markup is always lower than the original lender's because I don't spend money advertising during the Super Bowl, my president doesn't have a corporate jet, and we don't have layers of management we need to pay.

This is my first investment of this sort and it has not worked out how I originally intended but I am learning from my mistakes and will be making better decisions in the near future What made you interested in investing in this type of deal?