@Joe Gravelle What you provide:Ask Price: $310,000Offer price: $290,000Cash at close (20% Down plus 5% Closing costs): $72,500 (OK my estimate)Rents: $1300 per side or 2600 per month50% Rule for ballpark analysis NOI: $1300/Mo or $15,600/YrMortgage ($232K) 30 year 5% = $1246/Mo or $14,952/YrNet Cash Flow = $54/Mo or $648/YrCap Rate =  5.38% (NOI/Purchase price)Cash on Cash Rate = 4.33% (Net Cash Flow/Cash at Close)What you ask:  Should I buy this?

Joe Gore

Originally posted by @Joe Gore:You should make an offer and leave out all the weasel clauses because most investors don't have included weasel clause, and that is the reason they are going really fast.Joe GoreYep. 

Assuming everything has been going well, most people would not move for a small amount difference monthly rent, moving around and looking for housing is just too much hassle, cost and stress =)the example letter I use is included below:*********************Dear Joe, The time of the year has come when it is time to renew your lease.

Joe Gore

Joe Gore

Thanks Joe, I currently am looking into whether to use the VA loan or save it and use the FHA.

@Joe Sillaman I appreciate the tip!  

Joe Gore

It was a labor of love and kinda hard to sell in the end.