Accounting is a work in progress.

House is assessed for $61,000)Insurance 423 (recent quote from State Farm)Maint, repair other 1,000 (estimate)Water bill 1,020 ($85/mo. usual bill)Total Expenses 3,511Net Operating Income $ 5,723Mortgage pmts 3,417 ($284.75/mo.)Net Income $2,306My question is this deal something worth putting my money in, and Should it be considered if so, why and why not.

They continued to say they could not do anything and that I should pay the fee now or they would continue to assess me the amount.

I would ignore the tax assessment and the fact that there are no good comps shouldn't be a factor as this is an income-generating property, not a personal residence.

As a new investor myself, I find this forum very refreshing compared to a lot of the slick guru-types out there that want nothing more than to soak you for ever increasing wads of cash.My wife and I just started building our business in late October and are making some good progress, although it is turning out to be more involved than I originally thought it would be, at least from a financial standpoint.

(search here for the 50% rule) You have figured nothing in for vacancy, turnover cost, common utilities, and your insurance number looks low to me.What is the current tax assessment will the taxes go up based on your new purchase price?

Well, you've definitely come to the right place to progress in your real estate investing.

I'm open to meeting new people who can help mentor me as I progress towards doing my 1st deal.

Hello everyone, I am looking for a recommendation for either a structural engineer or a knowledgeable foundation repair company.My home (1968), soon to be rental, has some progressing settling or shifting.

I am sure I will seek you out again as the process progresses!