I think our biggest issue we are facing at the onset is to locate a great Mentor locally or to join Lifestyles Unlimited and/or Rich Club or will all 3 be beneficial to us?

I cringe when I hear Canadian investors paying US based gurus to guide them in Canada , same when I see nowadays lots of us listening people that have no properties, or only a couple properties that barely cash flow.Filipe

@Scott C. don't cut off your nose to spite your face.

Milwaukee is faced with a massive foreclosure dilemma as well, and in some cases have begun selling houses for a dollar (with rather strict guidelines of course).

If I'm doing any proforma estimate I'll use 10% after PITI.The only reason for me to do such guesstimations is for financing matters.I understand that many investors like to play with their calculators, I'm guilty of that at times to put a smile on my face.

The 1st floor did NOT, and left on their own accord rather than face the court.I owe roughly 112k, property value is roughly 180k and I also own the attached lot with value of roughly 20-25k.They are in an LLC, and far as I know I cannot equity loan on a property held in an LLC.If I could, life would b much easier.Small clams cases pending on both 3rd and 1st floor tenants for back rent, and 3rd floor damages.I pay water bill in total every 3 months.Mortgage is 1200 monthly not including insurance or water, and rentals are 875, 950, and 600.

When I see him now down at the building, he's always got a smile on his face and he's always willing to give me tips and advice and answer questions about the building.Good luck!

Needless to say that has artificially inflated prices for rental properties especially under $150k.So if you are looking to buy rentals- stay clear of the MLS and don't take recent sales comps at face value as a measure of ARVs; know expense calculations to know your true Net operating income; you will be surprised how it can often be way off than what most wholesales would have you believe.Let us know if we can assist in any way- our specialty is in providing data on finding & evaluating off-market deals.

Why get rid of a positively cash flowing property with great tenants if you don't have to.Just based on what you're posted, if a Refi can get you the money you need and your cash flow is not affected (or just barely affected), I'd go with the Refi.

These people have barely any knowledge of the system and cannot think outside the box.11) It takes way too many "clicks" to get to a Unit to make any changes or additions .