My partner and I keep an excel spreadsheet of rent, our purchases, utilities, taxes, insurance, and money spent on contractors.

How to track potential growth in an area to see if a lot is viable for purchase and building spec homes on etc. 

I currrntly own a home and am renting it out, I am working on purchasing a duplex.

We recently came upon a small property and are seriously thinking about purchasing our first rental!

A seller can not sign away his rights in a purchase or any other document.

Purchase price: $271,000 Cash invested: $30,000 Duplex with 1 bed, 1 bath in each unit + 3 car garage in a great neighborhood.

This, in turn, allows for higher rental rates or quicker sales, directly impacting the ROI.I could remember when an investor purchased an old, three-story commercial building at  a bustling downtown area.

I partnered with him and purchased my first property here in Columbus, OH.

So I want purchase it as my first rental property it's going to need rennovations for sure not terrible shape just older rancher home.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!