So, now, you're looking at other RE similar to the subject, if you don't own other similar properties you'll find it hard pressed to obtain a real cap rate on a pro forma basis or estimating future performance.Doesn't take long to figure out, if you're doing things properly, that you're running in circles chasing your tail!

Cover your tail before someone can come after it bro.

How much would you say is a respectable down payment that can avoid high interest charges.Also, for my southern cali people I am currently looking for investors to tail and gain some experience in the industry prior to my first investment.

````````````````````````````````````````````My wish for all that reads this is I hope you find your "Glenn" and you bust your tail working and reading.

This is nothing but a dog chasing its tail.

What if you worked your tail off (direct mail, using wholesalers, etc) to buy the house for $50,000?

Also, your equity cushion would be affected by how fast the 1st mortgage is amortizing, among other things.14%+ compounded is a nice juicy return over a long periods of time , which is why I love "note tails & zero coupons" for IRA & 401k accounts. :-)

Real buyers can buy, or agree to buy, have the seller in some cases terminate a contract and/or wait you out.Virtual wholesalers aren't going to be buying 10 REOs and spinning them off without the ability to perform, buying and then selling.There's a thousand things that could happen to crack any deal, I'd say you're chasing your tail. :)

Property manager stealing him blind ( this led him to have to fly from Portland to Memphis once a month to collect rents)5. he got just up to 80% then it started cratering with evictions and  trashed units in summary he got an offer for 500k and took and came back to Oregon with his tail between his legs lost 500k or about half of what I made him in ATL  LOL...

I would work my tail off to find a professional and get things on track.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.