Why not package it all up and sell it off to another investor, get some coin up front and keep part of the deal in the form of a mortgage.

If more folks took that approach, there would be a lot more people makin coin!

His purpose for being in the other bedroom was to feed wire from panel box not to take a coin purse.

Only presenting the rational behind my willingness to get involved with low income properties so that others(reading this thread after your comment) that may not have the capital that possibly you had to start with, or don't feel comfortable with too much leverage can have food for thought from the other side of the coin.

I was considering if it's worth it to sell some gold coins to purchase the next property and then wait the 6 months (over winter) and then pull equity out to fix it up in the spring.

If there are other revenue sources (parking spaces, storage lockers, coin laundry, etc) you would add that in as well.From there you can figure 50% expenses to get your NOI.Your NOI divided by your purchase price is your CAP Rate.What you'll usually see is someone saying they're gross rents are $1,000 so their GOI is $48,000 for the Quadplex.Their property taxes are $3,000, Dwelling Insurance is $800, Sewer/Garbage is $4,000 so their expenses are $7,800.They will claim a NOI of $48,000 - $7,800 = $40,200 and then calculate a CAP Rate off that.This is a garbage calculation.

You have a huge advantage over most, take your coin and invest it in better places only if you actually need more income.

So I graduated high school, worked a couple years and saved some coin up and started buying.

Good luck Ranae, lets get you goin to make some coin!!!

I would suggest telling them you are a player in their market and you should meet for lunch to see how you can work together to make more coin in 2012.