Also I read that you do not want to be listed as a dealer on taxes either...How do you all file your taxes without high percentages taken from profits?

If you do not want to use all of your own cash, you can do a joint venture but will need to give consideration such as a percentage of the net proceeds to your partner upon sale of the property.I have used joint ventures to buy auctioned reo properties.

No matter how nice it looks there is a large percentage of buyers who will not consider a house on a busy street.

Rent control in these areas usually means that increases are capped to CPI (usually) or just a few percentage points, and you can usually get temporary or permanent increases in base rent by improving units (most are temporary but I think JC is permanent, some places like UC recently repealed their improvement laws so it can change, but I've heard it's coming back).Good luck.

Also, a high percentage of utilization of one card is bad as well. 

:The community here generally allows for 50% of gross rents for expenses, these are a reality over the life of a rental. this is a percentage that seems highly unlikely and unrealistic as seller states the expenses at $ 185 and yours is 7 TIMES HIGHER at $1280I just don't see how this property can cost this high unless there is something seriously wrong with it which has not been disclosed yet.But 50 % is still an unrealistic estimate nevertheless.

Essentially, my accountant said to calculate out the percentage of SF used by the tenant, and then all expenses get apportioned by that same percentage, including depreciation.

More on that subject, with respect to your projections, what percentage of that projected IRR is due to reversion value (which is obviously fairly tough to predict 5 years out)?

I am looking at your charges and wondering if the items that look like repairs are actual repair labor charges or their markup on the repairs on top of the repair guy (which is often marked up as a percentage of the repair cost by PMs.

With the necessary fixes, I will be able to refinance the house and pay the investor plus their percentage but how do you locate a potential partner if your own portfolio comes up short?