Rent is 875, they pay their own utilities.

Unless you are working a short sale or utilizing some type of low equity exit strategy (lease optioning, note carrying, or long term rental) then you should focus your attention on the properties that most likely have equity (old deed dates or low original note amounts).

Would it be more economical to utilize the equity in his home to supplement his expenditures.

If your end result was too lose 20 pounds, your leverage might be I will die 5 years earlier, I will continue to feel fat, or I wont be able to play sports with my son.5th What has caused me to fail in the past when I have tried to achieve the results that I desire?

Even if you could afford all cash down so you have no mortgage, you still are left with taxes, utilities, management, maintenance, vacancy loss, and the list of expenses goes on and on.

Make sure this will be enough to afford that new A/C unit next summer ;) (my luck, the AC would go out in the winter, go figure.lol)-if the property is any decent size, maybe 1ac+, i would look for the following: wetalnds/ floodplain, utilities, buildible terrain, etc.

City utilities, or not?

The basic numbers I see are usually:Purchase Price- price you pay for the propertySelling Price - amount you will sell the property for (not necessarily what you will list it for)Holding Costs- monthly payments, insurance, utilities, points paid upfrontRE Agent Commission - agent's commission on the sale of the property (commission on the purchase of the property is considered paid by the seller)Rehab costs - total expenses used in rehabbing the property from lawn, paint, permits, property inspection, contractors, supplies, etc.Profit - the amount you must make to take the dealIf you take the selling price and first subtract the purchase price, then subtract the expenses (holding costs, agent commission, rehab) you should have your Profit amount.

Now it is an REO property being sold by a local real estate agency.Because we were REALLY excited about possibly getting the house we always wanted, we got a buyers agent and we put in an offer at the full asking price, but just asked that we be able to have utilities turned on (the house had been abandoned) so we could get a proper inspection for financing. 1.

"Flips" or anything you resell within a year of buying it (without utilizing a 1031) is taxed as ordinary income.