In my understanding it is a good enough deal to close on it and take my time selling it ate a "close to retail" price, though I am not opposed to wholesale it if the opportunity comes.I'll be using hard money but the closes I've found is 80% of the purchase price.

I had to leave that place because the rats ate a hole in the walls and we couldn't stay there. 

Most profit was ate right up.

Our locale just didn't work so other areas become necessarywe intended to 'self-manage' so it had to be withing driving range.we opted for a location where we had friends, as they had information we could use and perhaps get help with the property (ie team building)reapplying the first point, we started looking for 'good areas' in town.we excluded all class-c properties (research A,B,C property classes)as we were using a 1031 exchange, we were under some time pressure and elected to offer AS-IS.we ate a bit of 'deferred maintenance' but the cash flow has been great for ustoday (18yrs later) the property fmv(full market value) exceeds 2x our purchase price.While that process was ongoing, we read up on Fair Housing Regulation - - what we could and could not say/do regarding the application process and managing tenants.We looked at/downloaded many lease agreements to see and learn how others were protecting their interests.Lastly, we found tools for screening tenants, verifying employment and income, and how to perform background, credit checks.So - - that was our learning curve. 

Holding costs and higher taxes ate away at all the profit.  

(a) It is the intent of the Legislature thatfamily day care homes for children should be situ-ated in normal residential surroundings so as to givechildren the home environment which is conduciveto healthy and safe development.

@Wayne Brooks yea the bank did a second appraisal and the value went up which ate up the little bit of equity they had.

They wanted everything done by licensed contractors which ate into my cost and it was all work I could do myself.

I have invested a lot of time convincing my wife that this is a feasible way to make money if planned to a tee.

Last, charging ate fees sets precedent that you will not tolerate lateness, don't let your tenant manage up.