Purchase price: $55,000 Cash invested: $20,000 4 bedrooms, 2 baths, fireplace in living room and master bedroom, french doors in master bedroom to outside.

Labor and materials$375.00GCFramingRemove french doors.

Insider trading conviction In 1988, he was asked to join a takeover attempt of the French bank Société Générale.

That should not be the reason to own a Pit Bull.Anything with a mouth can bite, had an uncle who had to have stiches in his had from being bitten my a Toy French Poodle!

OK, one more thing, my realtor is freaking out that we want to put a master suite in the basement (has high ceilings,full bath, windows and french doors leading to outside).

The main cleanout should be 4" to the tank.It also appears that there was alot of fill in that area, based on the apparent dropoff to the right. french drains could have been put in to hold down errosion and again, those could be cleanouts.

He once had an awkward moment, just to see what it was like.Nothing tastes like chicken to him, not even chicken.He can speak fluent French, in Russian.

I remember the stories of when Israel air bombed Saddam's French-built nuclear plant Osirak back in the early 80s, back when Liberals used to remember that Saddam had WMDs.

Property Description:2 building 9 unit apartment complex located in a downtown area of a Midwest city with inter-state, water, and rail transportation systems in place.The building is about 40 years old, but has been maintained very well.Building is 11750 Square footThe lot size is 16350 square footNew roofUpdated interiorhard wood floors, crown molding, and French doors.Units: 5 3 br, 3 2 br, and 1 1 brGross annual rent $55620, 1 3 br is vacant, rent would be $750 per month.Asking price $400,000.00Seller agent claims NOI is $43200 per year, with taking in to account the one vacant unitSo, if NOI is correct, the cap rate would be10.8.Using the 50% rule the cap rate would be 6.95.Assuming the complex was full, the cap rate, 8.08.Not sure who pays the utilities, I am still waiting for the seller's agent to send me more info.Cash flow:Gross rent $55620.00 with current vacancy.Expenses 50% rule $27810.00Per unit $257.50 per monthNOI $27810.00Seller is willing to finance 80% at 7.5% over 30 years with a balloon payment in 5.P&I $26849.88Leaves $960.12Or $8.89 per unit per monthNow, I am just getting started, so I have exactly no cash to put in to a deal, unfortunately.Assuming similar terms for a loan for a 20% down payment, but with a 9% interest, that would be a payment of$643.70Per unit $71.52Net cash per unit of $-62.63At the asking price of $400K, I think this property is over priced.

If your tenants can not quite qualify for a loan but, have built up significant equity, you could convert the LO to a note at that point in time and sell the note to a note buyer for all cash.