I figured I could get him a 50/mo discount to move in, which would save him about $600/year in living costs.So that gives me about ~1300/mo to work with for a mortgage payment and utilities.Do you guys think it's possible for me to afford such a place (i.e. mortgage + utilities + any extra costs like taxes, etc.)?

As far as the national market - truth be told, there's a ton of cashflow out there.

COIN-OP WASHER AND DRYER IN BASEMENT TO STAY. 2 CAR GARAGE FOR EXTRA INCOME.

Now take that extra actual annual tax amount difference and calculate what % of the gross rents it covers.

You said it is below market value so you have to make the decision if paying the extra 5K is worth it.

Anyway, I am making very good money as a 50% partner in an Unrelated industry now (with extra cashflow to invest).

I am assuming from what you wrote that he has already organized a bank loan for the development and is looking for investors to meet the extra cash requirements?

If I apply an extra $100 to my principal payment each month I will payoff the mortgage in 25 years instead of 30.

http://www.builddirect.com/ especially their marble/granite/slate prices....kitchen cabinets....a friend of mine went to lowes, special ordered the cabinets and then canceled the order and they gave her an extra 25% off because of the slumping sales....for equipment try out the pawn shops or again, networking....hubby gets top name stuff from a certain big box store ...he gets the stuff below cost.

The investor will buy at the corrected market level which will in truth be current market price point.