The area is a  C- neighbourhood, bordering on our equivalent of a war-zone.

I have an opportunity to buy a flip house...there are 2 equivalent houses in the same neighborhood.  

(has been on the market for 2 months.. multiple applicants and offered leases who vanished when it came time for the deposit)Was considering requiring the security deposit with 1/2 of it being non-refundable due at signing if they backed out of the lease as i'll essentially be keeping the property vacant for a month.Security deposit is essentially equivalent to 1 month's rent.First month's rent due on 10/1 when they move in.Normal application process applies .I really don't want to pay another mortgage payment on this property, but i'd sacrifice that if i can get a solid tenant in.Thanks all, still learning the ropes..

That is the equivalent of your tenant staying 33 1/3 months.

Get something big and stable and a few things that are more liquid, you may need or want to liquidate.So lets say you can put the equivalent of 350k to work.

"Net profit" is equivalent to what we call "NOI".

2) Because there is no "official record" of the conversion into a quadraplex, the property will be registered as a SFR in the land titles system (or whatever the local equivalent is in Cali), lenders will only lend on the property as if it were an SFR.  

So, assuming a steady savings rate, it is equivalent to only $20k for a full year, which is a 3.875% rate of return, again much better than a 0% savings account that is the likely alternative.

Texas has damage that will exceed the hurricanes of 2005.  Do you suspect congress will incentivize redevelopment and if so what form of incentive do you think may be offered?In addition, I would be interested to hear...

ALISHA - I am not familiar with your specific area, but the Fed government has the equivalent of the "Cash for Clunkers" program for blighted urban areas throughout the US.