You want the net income after all expenses like, maintenance, utilities, taxes, insurance, property management (if needed), if the property is vacant figure that in, and Cap Expenditures (any big ticket items that might need fixing or replacing once you own), things like the A/C unit, water heater etc.

The securitization of the mortgage backed bonds, false security of bogus ratings and inadequately funded "insurance products" like credit default swaps, let the originators of these toxic instruments take on a thousand dollars of profit for a dollars worth of capital.

To add insult to injury, I also received notice that the property in un-insurable.

Downside is split single contract into two, double closing costs and increased mortgage insurance costs.MY QUESTION:Does this sound correct, or is the underwriter mistaken...Do multiple townhomes require their own individual loans for each single unit (even if apart of the same structure)?

I am waiting for insurance money to repair the fire damaged property.Can anyone suggest a way that a JV could be implemented in order for me to get:1) $350k upfront for my venture,2) get value for the insurance for the repairs3) after repairs sell the property pay off the mortgage and split the profit and give the investor about $200k for the $350k investment (plus repair cost)Just to want to know if there is a legal mechanism to do this.

I think your insurance might be a little low.  

. $300 cash flow post 5% vacancy, 10% capex included, PMI deduction, water, tax, and insurance. 

Also make sure you take into account your insurance costs, if they are monthly or you pay per 3 or 6 month period. 

I'm guessing the balance is around $130-140, assuming you've been paying the taxes and providing proof of insurance.  

One of the first things i request all my Foreign national clients to do is attain a tax ID Number and a government issued document bearing a photograph.