I came to that conclusion..  

Unfortunately, some of the (important) details are wrong and your ultimate conclusion (that this is a good investment) may very well be wrong.Here are some points to think about:- If you're generating $1500 per month in gross rents, your NOI (income after expenses) is probably closer to $750 -- not $1000 like you think.

The expenses are far higher than I expected, and I've come to the conclusion that no SFR bringing in only $500 per month in rent can ever make a good return, particularly if it isn't self managed nor expected to ever appreciate.

Payment for said parcels shall be made prior to the conclusion of the sale in the form of cash, certified check or money order, or parcels will be resold.

The law exists to protect the public from predatory behavior, not to prevent them from voicing their experience or opinion.The Virginia Supreme Court defines the "practice of law" as: One is deemed to be practicing law whenever.(1) One undertakes for compensation, direct or indirect, to advise another not his regular employer, in any matter involving the application of legal principles to facts or purposes or desires.(2) One, other than as a regular employee acting for his employer, undertakes, with or without compensation, to prepare for another legal instruments of any character, other than notices or contract incident to regular course of conducting a licensed business(3) One undertakes, with or without compensation, to represent the interest of another before [a tribunal, as hereinafter defined in UPC 1-1,] otherwise than in the presentation of facts, figures, or factual conclusions, as distinguished from legal conclusions, by an employee regularly Ö employed on a salary basis, or by one specially employed as an expert in respect to such facts and figures when such presentation by such employee or expert does not involve the examination of witnesses or preparation of pleadings.Virginia UPL Opinion 48. http://www.vsb.org/site/regulation/virginia-upl-opinion-48So, don't advise people on the law for money, don't prepare legal documents and don't attempt to represent people in courts or tribunals in Virginia without a license and you're not breaking any laws.Indeed, the very purpose of this community is to advise each other.

I've posted about this before but I don't feel that a reasonable and sufficient conclusion was ever reached, at least not on my part.I have not yet done any deals.

I came to the same conclusion.. but for different reasons I had a 30 year run at this stuff.. and well since my properties did not go up.. and I had to depreciate them by the time I paid to remodel them a little bit to get them sellable and pay sales costs..

Now the city did require the permit on this case and the epa requirement, therefore it is educationally conclusive they made alterations to the frame which triggered the permit and epa law.

If any of our members have used the following software, please write a brief pro/con/conclusion about the software.Trex Global's Simplify 'Em OrQuicken Rental Property ManagerI already have Quicken Premier 2009 but have seen sketchy reviews for the rental property manager upgrade.

[Draw your own conclusion - my comments are not official tax advice]...