It's easy to figure out, once you understand that TX is OWNED AND OPERATED primarily for the benefit of SPECIAL INTERESTS.

Throughout the United States, operating expenses run 45% to 50% of gross rents.

The reason that is that in addition to the mortgage payment, you also have operating expenses.

Add in the operating expenses and your monthly loss is $970.Mike

Four mostly European banks who have operations in the US but more in the secondary market or through specialist lenders.Chase the deal but expect you might not find an inside track.John Corey

bigdave19,As Rehab said, you missed most of the operating expenses.

Generally those guys are "fly by night" operators, and come nightfall, they'll fly.

Here is the word doc. that he forwarded me for how the process would work: [i]BANNER BUSINESS SOLUTIONS LLC 1401 Elm Street Suite 4737, Dallas TX 75202Chief Operations Officer: Dwight DilworthPresident of Marketing: Otis Tucker 214-213-7868PROCESS FOR INVESTMENT PROPERTYLocate property that meets investment requirements.

I am not even sure what government authority would be responsible for auditing that and/or what they would do if you put that money in operating fund.

Asking 350k 12 unitsScheduled Gross Income: $72,000Vacancy (5%):$3600Effective Gross Income: $68400 Maintenance: $7200 Taxes: $12,600 Insurance: $1,200 Other Expenses: $10,600 Total Expenses: $35,200Net Operating Income: $36,800/12=3066.66350k@8% for 20 years=$2,927.54balance=139.12/12=11.59 per unit not stellar by any means, but in the black.