Jeffrey, Operating expenses include taxes, insurance, management (even if you do it yourself), maintenance, advertising, office supplies, legal fees, evictions, damage done by tenants in excess of the security deposit, entity maintenance, utilities (if only during vacancies), vacancies, capital expenses (not technically an operating expense), etc, etc, etc.

. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ http://www.iht.com/articles/2008/09/07/business/fannie.php The U.S. government's planned takeover of Fannie Mae and Freddie Mac came together hurriedly after advisers poring over the companies' books for the Treasury Department concluded that Freddie's accounting methods had overstated its capital cushion, according to regulatory officials briefed on the matter.

Also, what is security deposit in " Certified Funds"????

Securing Your Agreement Against The Property To secure your interests against the property, you'll want to be sure to file a Memorandum And Notice Of Agreement in the public records.

The last multi we purchased was empty so we didn't have to worry about rents or security deposits being passed on to us. this multi (4) is fully rented and the owner told us that indeed deposits were collected and that they will forward all existing leases showing the deposit and rent amounts and that they would transfer said monies to us at closing.

That's the first official step.

Friday September 5th 2008 Fannie issued an announcement pertaining to what most of us expected was coming. This has been a topic misunderstood by many investors and even mortgage brokers. Over the last several months ...

I have read a bunch of info about finding them, finding buyers and then working magic (won't pretend to be even close to competent at it) but it is all pertinent to the US and I want to know if I need to get my CSC (Candian securities course) to be able to middle-man a note sale.Anyone have any advice on the ins and outs of the business in Canada?

If you are seeking as a private investor, I can return your investment $1k richer for your kindness, and of course secure said transaction with a standard commission assignment agreement of course fully executed through my broker of record.

Did you spend the money on legal costs of creating the partnership before or after you secured financing?