With that said, your extremely close to losing money and my numbers are based on no additional problems being encountered (the hidden repairs).$8K / 6 mo. = $1,333/mo. earned at a sale price of $410K Maybe you can shorten the time to completion, but my numbers are closer to real numbers for the new investor and good conservative numbers for the seasoned investor.

Not worth the time and headaches you'll encounter.

Hi @Victor Velazquez,You, like many newer REI before you encountering this exact same challenge, need to repeat this three times:Rental income is mortgage qualifying income.Rental income is mortgage qualifying income.Rental income is mortgage qualifying income.Fire any lender that tells you anything about needing to see it on two years of tax returns, or similar.

Perfect,,  we had 3 story building and bled radiators every fall at start up.. so we were sure all was working , and occasionally would encounter a air block so adding water kept the system up and water circulating properly in the radiators. 

I have been selling off my Baltimore portfolio and I continue to encounter low ball offers and untrained wholesalers who tie up my property while having no one to buy it.

The reason I think newbies should get lending lined up ahead of time though is because I've encountered too many newbies who are shocked at just what it takes to get a loan.

I will tell you that my partner and I have encountered many projects that we unfortunately have to finish and re-do because out of state investors were not properly vetting their trades.

Don't be afraid to keep reaching out to the community here as you encounter road blocks on your journey.

Let's not forget about the for certain request for your bank account info within a few emails, no doubt and never mind about the project that you're requesting the funds for because they will have little to no concern about it - supersized red flag.Though the last scam attempt I've encountered, I had linked per his request with someone claiming to be a retired biochemist from Kentucky with millions to lend for gold and all types real estate and other ventures.

Not sure if this will help ya or not, but check it out:How to Invest in Real Estate When Everything Is Too Expensive (I figure detroit to Boston is going to be quite the sticker-shock!)