In addition, the additional expenses that are created by fully furnishing the property; paying all the utilities; paying for a cleaning person; providing cable tv; etc could easily wipe out the increase in rent.

Either the $500,000+ he claimed to have put into the rehab was TV puffery or he seems likely to lose on this deal.A cursery look on Trulia.com at other proprties in the area would make one wonder how anyone would come up with 1.3 million as an ARV for this property.

Use the tv as an enticement.

call ghost hunters and try to get the property on TV.

Until you reach the buy and hold Stage I personally think a good spreadsheet, a cash back credit card with paper statements, and that new mileage tracking app I see on tv would be much simpler than quick books.Just my opinion

I run a business from my office at home in Chicago...I am starting to build out a decent size team now, when before all my help was from Independact Contractors (Virtually).I have been looking at some office space.Here is a cliff notes version of what's going on:I need an office where I can shoot Youtube Videos (Twice The Speed TV)...My videos consist of workouts for athletes so I would need to put down some turf and rubber flooring to bring some weights in there.I don't know whether I should try to lease something (short term) or just buy something (like an industrial Condo) and then fix it up to how I want.I have the capital to do either, so I am just wondering what would the ideal approach be if I am looking to get an office in Chicago.Thanks,JC

I pulled the carpet and found the original hardwood floor just like those show on TV!

Never trust anything produced for TV but that's a different story.

We have TV shows like Million Dollar Listing San Francisco and Los Angeles or Flip or Flop that show people just how much money can be made in real estate here. 

If you have Netflix, check out "Nightmare Tenants, Slum Landlords".  It's amazing, and not in a good way.  It reminds me of some of the eviction horror stories I've heard about in extremely pro-tenant jurisdictions li...