That's awesome Darren, incredible numbers, and look forward to talking to you.

This is absolutely incredible that I have found this level of advise and expertise so quickly and easily.  

The property was cashflow positive, producing cash 25% in excess of monthly expenses, including taxes and insurance. 

I'm purchasing a property in Cleveland Ohio, and my plan is as follows: The landlord needs to get out of his loan for his current non-income producing rental property.Current Value: 64K FHA Loan Payoff: 49KCosmetic Repairs: 5K (elaborate upgrades to with this price)After Repair Value: estimated 75K Rents: $700-$900Purchase w/ Hard Money Loan 6months -1year to SellRent till PurchasedTaxes will need to be paid (unsure of the amount)Now my question:When creating your purchase agreement do you need "and assignees" added to the signature part of the contract?

I've used simplified spreadsheets over the years and have altered them after finding and understanding things like cap rate, GRM, and a plethora of other RE goodies.Two years ago I realized I needed an income producing strategy for retirement.

In fact, it seems like an incredibly bad deal.  

It seems apparent to me that actually using it to pay down debt is counter productive, until you're ready to refinance if that's your objective.It makes more sense to me to save the cash flow (true cash flow, not vacancy/maint expense savings) in a stockpile to use it when an opportunity comes along, whether that looks like a new property or an opportunity to improve either financially or physically the existing state of a income producing property.The opportunity cost of something else coming a long is probably what I'm skirting around, but in my mind it makes sense to bring in a respect for time and opportunity to the equation.I also feel like something I extrapolated from Gary Keller's Millionaire Real Estate Investor is worth sharing for anyone reading for nuggets.  

I might agree with this, but celebrity spokesmanship is incredibly common these days.

Hey everyone, After a lengthy search for the perfect clone for myself (see this post if you have no idea what I'm talking about) I'm excited to announce we've officially hired a new content producer for BiggerPockets...

Just because it seems like a bad choice to you doesn't mean t's not the perfect thing for the seller.Final thought... a property with a purchase price this low is probably not going to produce an NOI at 50%.