First I would like to thank everyone on BP for giving me the courage to even try this.Ok so I wanted an opinion on a deal.Asking price: $170kRehab: $65k estimated but I think it will be a lot less4 familyIrvington NJ2-2-2-1 bedrooms.Rent2bed $1000-12001bed $700-$1000Estimated Rent Roll $3700-$4600Buy and hold Section8Estimated down payment $6k Estimated closing cost $6kEstimated Taxes $6kMonthly estimated $1900-1950Gas $200Electric $75Let me know if I'm looking at this correctly.

That book is "How to Read a Rent Roll: A Guide to Understanding Rental Income" by John Wilhoit, Jr.

While this will work in the long run and we will be successful in the long run , I would like to use wholesaling to earn cash faster so that I can roll that into more long term rentals, and reach our passive income goals faster.

I'm generally not interested in a RE market I have to jump on a plane to visit in the first place, and even if I did Southwest Airlines would be closer to the way I roll.

Let's try this....max of FIVE rules per person (top 5), label them YELLOW, RED, RUN(somewhat subjective, but gets the ball rolling) .

Way to get the ball rolling, I'm about one month ahead of you, so I'm just going to tell you what I've learned thus far.5% response rate on postcards sounds high.

I also recommend you rent a 100# roller to roll the floor with so you get the proper compression of the glue to make contact with the subfloor

You can hone your skills as time moves forward the main thing is you want to get rolling.

The roof needs to be repaired, but roofer is recommending a full replacement.The roof is flat with rolled asphalt.

Right now we are totally in info gathering mode and are planning to hit the road running as soon as 2015 rolls on us.