In addition, we have black mold in the bathroom behind the drywall, when I expressed my concerns, I was told to keep receipts if/when it's fixed for reimbursement, and that they would order an air test for the house to check for mold.  

I currently have a American Express Gold Rewards card and an "nrewards" card through Navy Federal. 

@Alex Sanchez,"Red tape" is rather a dated expression, going back to when things requiring further inspection, repairs, etc. literally were flagged with "red tape" - think of crime scene tape colored red.

Doing so will provide an added level of comfort for you that the contract explicitly expresses your intent.#2) From my experience in NJ, deposits are usual held in a trust account belonging to either the buyer or seller's attorney.#3) Again, I'd recommend consulting an attorney to ensure that you're going about this the right way here in NJ.

Thanks for the post, and nice use of a South Park meme to express your opinion on something as complex as real estate investing using a 401(k).  

This is obviously from 40+ years ago, and this person has been long gone, and hasn't expressed interest in the property in almost a half-century.

And if you have a challenge with this, go be an artist and express your inner self on canvas or a sculpture and stop spending so much money and time on these items.  

I indeed appreciate the "non-troll" opinion you've expressed, so in the same spirit of goodwill, please allow me a few words to explain my "No MAO" Belief.No MAO TheoryNo matter what you are buying, whether it be cars, lemons, or houses, there is an agreement.  

We acquired it for $141K, we put $40K to rehab it and we're thinking of selling it for $280K.BeforeAfterBeforeAfter3) Raising Money, Organization, Systems, Training, Networking & RelationshipsThis Saturday two investors I talked with and they expressed interest in investing their IRAs with me and in my lending business.

So it is a simple mathematical expression of how much profit I am going to get from deploying my money.However it is important to note that the cap rate is just one single tool someone should use to analyze a property.