I have practiced using the calculators and there are terms I don’t understand and don’t know where to find the data.

We need to get our feet wet and are willing to work for free in return for quality experience, practical education, and valuable relationships.

Make some offers and get in the game.No substitute for practical real life experience.My final comment if you want to buy and hold and are investing for the long term.The biggest factor in a successful investment will NOT be what property you buy.

Hi BP Gurus / Seniors,I am new to the REI and placed an offer for my first multi-unit property.Here are the details.Area: Near by Shabbona Park, DunningNumber of Units: Legal 3Built: 1950Price: $455,000 ($450k (purchase) + $5k (Minor repairs: Nice to fix but not an immediate need))Loan Type: Conventional (20% down & 2.5% interest rate)Annual Gross Rent: $38,400 (Tenants pays Electricity + Gas)Annual Expenses (Property Tax + Insurance + City utility): $10,000Parking Space: 3 (Garage – 2 & Side Pad – 1)Other details: Exterior Brick, free laundry in basement, all units occupied and it is a turnkey property.Pros: Steps away to CTA Bus Stop; Good Elementary school (PK-8); Walkable to Shabbona Park Recreation, Restaurants and Grocery Stores; 10 mins drive to Schiller Woods; 15 mins drive to Airport & low crime to visit the property any time confidently.Cons: Below average High School & 20 mins CTA Bus to Blue Line.My Situation: I will be in Chicago area until next Summer and relocate to Texas.

Again, I certainly agree that paying the Freddie Mac fee should not be regular practice, but I definitely would not dismiss it just because I was in accumulation mode.   

I can understand that the fact I have sprayed the property twice might confuse my tenant on this responsibility.This week, the tenant reached out once again reporting gnats in the property.Do you think there might be an underlying issue, other than unsanitary practices?

You are correct though, cash flow is becoming slimmer and slimmer; practically non-existent in many parts of the city. 

When I was ordered to relocate to other states for my duty I decided to rent my current house and buy another one in my new location.

The BP blog has a lot of great articles on the practice and there is a book in their bookstore on it by Craig Curelop https://store.biggerpockets.co....

HiI have a townhome in bay area with 70% equity currently valued at 1million.I am considering relocating to Sacramento area to expand my family.