You are up against someone who can literally make your life miserable.

I must be doing something wrong, but for the life of me, I don't know what that is.

If your target was a 10 cap but the inspector said a new roof was needed now for 8,000 you would go 86,940 purchase - immediate capex (8,000) = 78,940 offer priceMost investors shoot for about 100 minimum a door clear after anticipated costs and debt service per month.Remember the costs average out to 50% but some years you will use more and some less but it will average over time close to this.Big ticket items you need to build a cost reserve stable of when those items will reach past the life expectancy and plan accordingly.If you look at the BP file vault on here there is some free stuff and I believe a cost reserve stable in excel example is on here somewhere.

(Bad) Debt is a poison on your mind.How badly do you want to change your mindset and quality of life?

Even though I'm in my early twenties, reading this alone makes me feel like I wasted the last 15 years of my life!

It makes life so much easier for the people willing to learn!

I will make sure going forward I provide a carbon monoxide and smoke detector as a back up even if I have a hard wired system.I can handle losing a house but would never get over a loss of life.

You accountant can help you with setting up a cut-off amount for checks to be written, (consider the balance of the account for a prudent cut-off amount) you'll make life easier for one to buy smaller items.

That would mean my equation would look like this for a property that makes sense to buy:.91*[(R*36)/2] > (Acquisition + Rehab)So, after doing some number crunching on some real life examples (assuming 9% property management fees and the 50% rule), it would appear that dividing the rent amount by .061 I can come up with my max purchase price.

Owe for the rest of your life!