Go to the meetings early and stay late, utilizing the most from conversations you have with the seasoned investors.

If you have a croporation as apposed to getting taxed as an indivdual there are slight differences between their tax brackets (indivdual is usually better), but the profit is not in the bracket itself but in the incentives that one can utilize under corporate law.

We would have to put in a road, and all utilities for this property and would want to make an nice entrance...since thia is an upscale neighborhood.

We parted ways a few years ago and since then I have worked in the Entertainment Industry as a Club/Events Promoter working with several celebrities in Urban and Sports Entertainment.

I would like to really utilize this site to network with like minds and learning as much as possible with those that has "Been There And Done That", :D .

If the utilities were not turned on for inspection, a minimum fifteen (15) percent is required.

What I ended up doing was becoming basically self employed in the rehab business to feed me with something a little nicer than beans and to pay little luxuries like utility bills.

Of course, the $850 quoted could just as easily INCLUDE a total amount WITH the utilities figured in (even if the tenant pays them separately).

You would need an additional $10K or so of your own cash to cover the excess of the rehab over the loan amount ($3K), the points (about $4.5K), and your holding costs (taxes, insurance, utilities, etc.

Less expenses (you can use 50%, but it could be more or less depending on many factors such as owner paid utilities, etc.)Now that you have an estimated NOI, you can calculate if the ask price is too high, in line, or lucky you, under valued.NOTE: Whne I mention this standard formula, it is used only to gage if I should put more time in investigating the property.