It is doable, but the hardest part about it is juggling schedules and finding time to generate leads.

The seller said that the work for the job is lined up with the water company but keeps getting postponed and doesn't have any scheduled date."

I was unable to stay until the end due to schedule but it looked like something you would have enjoyed!

I understand that Schedule E attached to 1040 is used to file my rental incomes and expenses.

That's fine, he can go last too, the closing agent simply says "Mr Seller, I'll be taking to the buyer about their loan and personal expenses, as soon as we are done I'll have you come in for you to close".

Schedule a showing and go look at it.

If they pay and stop the eviction, I would approach them about moving, changing the payment schedule to line up with their pay check or something to get them to pay better.

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I'm scheduled to look at this 4-plex later today.Asking price is $109,900These figures are based on a purchase price of 90K A little more than 20% disconut price22500 25% downLoan rate 5% 30 yrsMontly rental minus 10% vacancy $2070Home owners 700 yrtaxes 6300 yrmonthly expenses $620 not including PMRENTAL INCOME 24840 YRTotal expenses 18784Total loan payments 4344Cash flow $6056Intrest expense $ 3375Depreciation $2945Total tax deduction $4080Tax saved -612Net after tax cash flow $5444 or $453This is from an on-line Investment Property Calculator.I kept it as short as I could.These figures are at 15% discounted pricePurchase Price $93415Down payment $23,353Loan rate 5%Term 30yrsMonthly rental less 10% $2070Home owners 700 yrTaxes $6300 yrMonthly expenses $620 NO PMRental Income 24840Total Expenses 18952Cash Flow $ 5888Intrest Expense $ 3503Depreciation $3057Ins, tax, other expenses $14440Total tax deduction $-3840Tax saved $-576After Tax cash flow $5312 or $442/mo.Taxes are high in NYS.There is a misc expense that is included in the figures at $ 4739 per/yr.

I would love to attend a REIA meeting the problem is that every one is scheduled while I'm at work.