Our Underwrite takes 24-48 Hours, if we are provided with clean and correct documents.

Is 10% ($1,750) per month in simple, taxable, spendable interest very attractive after owning real estate that likely did not generate that kind of cash flow? 

While they cash flow, we've realized we're over-leveraged and want to take a different approach.Our plan is to purchase our first investment property in Indiana, possibly paying cash, with the goal of generating reliable income.

The Numbers:Cash Flow Analysis: Investors typically look for properties that will generate positive cash flow—meaning the income from rent covers the property’s expenses (mortgage, taxes, maintenance, etc.) and then some.

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

For a good tenant that has paid on time and was keeping the place in good clean condition I probably would have just eaten the charge.

For a one-bedroom, cleaning alone would cost around $200.00 in NYC.The fact of the matter is many landlords do not know the going price for labor and supplies. 

Have contracts or covenants that keep newer homes there and keeping yards clean.  

Open houses are typically used to generate leads, not sell houses.

The seller will lose some rent, potentially incur costs to evict, possibly costs to clean out the units depending on your sales agreement.