So, after replacing some carpet, painting the whole place, and some other minor improvents, here's where I'm at.Expenses $9600 (including everything but mortgage)Income $17300Expenses=55% of gross rentsDuplex 2I've owned for 8 years, and it was 3 years old at the time of purchase and needed nothing but a little touch up painting at the time.Expenses $31200 (including everything but mortgage)Income $104200Expenses=30% of gross rentsTotal expenses between the two = 34% I do expect this number to go up a as the property that is now 11 years old starts to need more repairs.

The shows make it sound soooo easy that any fool with some dough and credit thinks s/he can jump right into a flip, splash on some fresh paint and add shiney drawer pulls and make a fortune.I get bid out by these fools regularly and then watch those properties languish on the market for months at a time.

Thanks for the tip!

Tips on how to organize time and effort will be quite beneficial.

Personally, I feel like the US economy could tip either way, but I feel like I'm in the minority watching our budget.

hmmm... okay sounds good... any tips on how to get started?

My biggest issue is that ANYTHING can happen in 6 mos and then what if they cannot buy the house, and we are back in the same situation as before, with more possible repairs.On the opposition, it is taking the books off the books for now with the possibility of selling the house at list price and make decent money on it even with all of the problems we had.Any tips, ideas, suggestions for this situation?

My agent said they get classes, safety tips, and reminders at various seminars here about that very thing.

I know we're missing information here but it just doesn't seem like much of a deal unless you have very deep pockets and plan to live in it for a very long time.Since you're a first home buyer, look for homes that need basic cosmetic work such as paint and carpeting.

If you get a little appreciation, then maybe you make up that loss or tip positive.Like Heathen, I like buy and hold.