Regardless of what approach/configuration you take, both would leave you without any reserves or operating capital.

What is your plan for operating?

Back then ('89) the conforming loan minimum was $30K so any loan for less was loaded up with extra points, junk fees etc, and it required 20% down.

i'm talking a GOOD 6 months to a year of learning about finances (both personal and business), real estate investing - benefits and risks, business operations, and some systems for analysing properties thoroughly.keep in touch.

i hav a friend whos financing just fell thru on a 200 k loan to finance his salvage operation he has the land and liscencing all wrapped up but needs operating capital and money to buy a scale he has some good collateral if interested kevin

I just stumbled across this awesome site today and decided to sign up.I'm looking forward to gaining new knowledge from all of you, as well as doing my part and contributing to the pot of knowledge.Oh, and I'm also looking forward to making boat loads of money in 2007 and beyond!

Tucson, AZbut I operate in and around Mexico :mrgreen:

Price/ Unit $ 52,500 Price/ Sq. ft $ 74.46 Rental Income Scheduled Rental Income 48,000.00 ( per year) Vacancy (0%) 0 Effective Rental Income 48,000.00 Service and Other Income 1,615 Effective Gross Income 49,615.00 Operating Expenses Utilities: 4,320.00 Repair & Maintenance 1,300.00 Turnover Costs/ Cleaning 3,000.00 Taxes 2,568.00 Insurance 1,750.00 Total Operating Expenses 12,938.00 Net Operating Income 36,677.00 Debt Service 22,884.00 Cash Flow 13,793.00 Cash Flow/ Month 1,149.42/mo Cap Rate 9.178% 4 2-bedroom units rent for $550 4 1-bedroom units rent for $450 Can anyone help me figure out if this is a worthwhile deal?

And landlords became very rich last couple years :D Here in Ukraine operate many int companies: Colliers, Cushman&Wakefield and CBRE (via assosiates), LaSalle, Knite Frank and market looks very affordable.

3 Complaints within 1 year of operation is certainly not a great record.