Here are the numbers on the condo unit.Cost of condo 260,000.00 (fully furnished)Average annual rental income 20,000.00 (past two years)Annual carrying costs 13,000.00 (untilites, insurance, cable etc. everyone except a mortgage if you have one)If we use a local management company, that is an additional 25% commission.I guess I don't know how to figure ROI on investment property.

The paneling is smooth with the exception of the vertical seams every 4'.

I have copies of inspections done on the remaining structures after the explosion which show them to be sound, except one which needs $15k to repair the pier and beam foundation.

There is no set rule of course, but generally speaking, you have the correct understanding with the exception of the "longer periods of time".

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookThere are many different types of commercial investing each with its own set of rules and exceptions.

The neighborhood is exceptional and land purchase price will be lower than market, given personal contacts.The land right now is about half filled with small-to-medium-girth trees.

ERISA prohibits this with the exception of a loan from the 401k.

Now you have $47k to expand your portfolio.The only exception to this would be if you're looking to move into a bigger property (like a multifamily) and you're looking for a big down payment.

People seem to really love everything about the house with the exception of the fact that its on well water and a septic system.

Obviously there are many exceptions to the rule mainly applying to excellent operators that understand this side of the business in major downtown mid to higher end hotels.