My principle in this scenario would be $6K.Cumulative cash flow - Total cash flow for this time period (Total Income minus total expenses, including PITI)Debt paydown - Initial debt balance at purchase minus current debt balanceMarket appreciation - an increase in appraised value without extensive rehab. 

Hi BP, I'm looking for recommendations for GOOD Collection agencies.

Hi BP, I'm looking for recommendations for GOOD Collection agencies.

@Thomas S. and @Casandra M we do not truly have issues actually collecting the rent.

Not sure if this is allowed in all markets, but I collect first + last + security before letting tenants move in.

Jeff's been featured on Bigger Pockets podcasts (#241) and has invested extensively in the Indianapolis market.   

If I can jump through all the hoops.. my debt to income ratio is on my side, its very low. income tax season is here, so that will help me out. one issue is; my work has been slow the past couple months, only working 2-3 days a week. but we are finally picking up and should be busy for a while, my YTD income/income over the past 2 years has not been very good due to having 4 surgeries(work out injuries).... although I was collecting short term disability all 10 months off work. hopefully the bank see's how much money I make a week now and everything works out, wish me luck BP FAMILY :) 

They are literally desperate and counting on Joe to close (a realtor offered to list it but Joe said he was a cash buyer and no fees and fast closing).  30 days later Joe is asking for an extension and a price drop but there isn't room. 

I would structure as a 12 month deal with (2) extensions. 

I meet them and sign the lease and collect security deposit.