Total out of pocket contribution over 60 mo $3,455ROI 47%1st year of land contract, from principal repaymentROI over 5 yrs 239% from principal paydown, assuming no appreciationCash flow $320/mo after land contractCash on Cash 37% after land contract, assuming $5,000 down and closing expenses of $2,000 and total negative cash flow of $3,455So, I do buy into negative cash flow situations, but at reasonable interest rates, with low cash burn and high rate of return after the land contract is paid off.  

You can be involved as well.I suggest you put the deal on the back burner until the dust settles, the modification is completed and make a new contract with a later date and burn the other one.

Wise to not just get "as many deals under contract as quickly as possible" when you're starting out - since you'll be holding the bag (and burning bridges) if you can't find a buyer to assign to.

Triplex-1 unit is a 2 BR/1 BA that gets $750/month.2 units are 1 BR/1 BA and get $695/month each. ( I would live in one of these)Total rental Income of property each month is $2,140, or $25,680/yr.Monthly expenses are:RPU - $150MN Energy - $120Trash - $20Insurance - $140Taxes - $151Total monthly expenses: $581/month or $6,972/yr.He told me that he just had a market assessment done and with a realtor it would list for 175,000k.

Ali Hall By the way, if you was able to increase value of your 3plx investing your time and energy, you could use flipping houses to raise cash for your future rentals

Hi I hope you have the energy to keep a detailed diary of this rehab because I now we are all facinated by this tale.  

That will help get your mindset in the right place with a bit more concrete details than just energy and motivation -- those only take you so far.

The idea is that if a fire breaks out in one unit, the clips burn and break away from the drywall so that the house on fire can burn and fall away without affecting the other unit.  

In my early 20s I'd been burned by commissions and being steered toward certain funds with higher compensation for the "Adviser," rather than what was best for me.

Plus it has a newer central ac/heat, and it's one of the few in the neighborhood with a real wood burning fireplace.