If IRR falls below the required rate of return, the project should be rejected.Now, the real world definition:IRR is the rate of return produced by investing equity into a development project at the beginning of a project's investment cycle (this could be cash used for predevelopment costs, land close, and funds for construction) and getting repayment of original investment plus yield on the invested capital at the end of the project.

That's a pretty decent discount given the pay history, and should produce nice mailbox money.

The timing is interesting as I had just began listing to both of the podcasts Bigger Pockets produces.

The timing is interesting as I had just began listing to both of the podcasts Bigger Pockets produces.

The individual property assessment data, tax record history, and tax bills are produced and kept by the 25 cities and towns"Like several other places in the NE, the county government is not in charge of collecting taxes, the cities and towns are.

Now just keep analyzing more deals and don't get hung up on this one...see what else is out there and start working your funnel to produce leads.

(Still renting it for five months or so.)My intent was to make it a income producing property before selling it.

For my business, I would partner all day long with someone who can produce consistent deals because I have access to capital and systems for project management and property management.

We'll see if he produces.

There's no committee to go through for foreclosure. 20% down and INCOME PRODUCING is an easy loan to make.