I had friends who purchased houses in 2006, 2007 and early 2008 who suddenly were so far under water on their mortgages they couldn't see the surface.  

My name is Mike Ventura and I am from Northwest New Jersey - about two minutes away from the Delaware Water Gap.

However, it would likely be the same after year 3 and blow the Midwest CCR out of the water by year 5 and beyond, and we haven't even talk about the ridiculous and speculative appreciation investing in our neck of the woods. 

Price: $72kDown Payment: $18kMortgage: $54k ($290/month for 30 year conventional)Taxes: $120/monthInsurance: $33/monthHOA: $120/month (includes water)Total: $563/monthRent Rate: $750-800/month (and I already have a renter lined up) Thoughts? 

I've put my toes into the real estate water and I love the temperature.

The second one, there are 2 gas boilers and 3 water heaters running their exhaust through it.

Pulling some "investor" stuff can get you in hot water as an agent.

He was purely a word-of-mouth discovery.

Manager lives on-site.Ok, those are the things that are positive about the home and community.Now for the things I feel would need to be added/completed/renovated before ready for sale or rent:New gutters - ~$800Laminate flooring in kitchen and bathrooms to match entire house - estimated $500Stove/Oven - ~$600Fridge - $700W/D (optional) - $600Window in master bedroom - $200Ceiling fan in master bedroom - $200Kitchen sink - $200Redo all door trim/paint all doors/rehang, replace or adjust a few doors - ~$500 (just a guess)Add small door to water heater closet ~$100New master bathtub - ~$8003-4 panels of skirting need to be replaced - $ (no idea) but estimating $200Ramp/Stairs/Deck leading to front door needs to be replaced - $1000Landscaping in front - $200Cleaning entire home to make ready for sale - $200I'd like to get a foundation specialist to look under the home (free)Roofing specialist to talk to me about the metal roof (free)I need to ask her about the furnace (forced air) and its age and working condition.I need to factor in about three months of lot rent (at $375 per month) for the renovations to be completed - $1125And I'd like to have $1000 set aside for unexpected rehab expensesGRAND TOTAL = $8925This would mean that our negotiations to the seller would start at $11,075.First, are these figures anywhere close to realistic?

I used to thought that the people and topics are purely US-based.