One of the basic considerations of analysis and accounting systems is that the effort and benefits must be worth it, if you're playing with the calculator you're not looking at your market or reading about changes in laws or doing something else that actually has greater value to you and your business.

Hopefully after the rehab I can put back to the market and make some good money compensate all the effort I am going to put into this property. 

Hi @Cliff Jackson...I am also a newbie from collegeville area and in fact this is my first post and/or reply to a post after I found this site couple of months back..I have to admit that I have been a silent observer on this website reading various forums etc in my spare time at night with my full time job 9-6 and another full time job with two lill ones at home 6-10 :)....apparently my keyword search with 'collegeville' brought my attention to this post..good to see someone local with common interests and background..my goal is also to have my first investment property by the end of this year and in fact I joined a local investment group last month...just attended one meeting so far..but was impressed with the kind of folks who come there and certainly a great place to start networking..here is the website if you are interested ..http://digonline.org/If you end up joining, might as well meet there...Other confession - Ever since I started reading about real estate investment, I have been overwhelmed with the info out there and now I am thinking that I need more education than I previously thought (even if I know more than what I knew after I started reading since last 2-3 months)....but I am sure we as newbies will get somewhere if we are persistent enough in our efforts...So GOOD LUCK to you!!

Your effort in helping others and participating in the forums will pay off big as you meet good people who will make you money.

Michael, I plan on birddogging to start off, although I really need to put some effort into finding people to supply deals for.

Hopefully you may never need it, but if things go south for whatever reason, you will be very happy you exerted the extra effort.

When you acquire 1/2 dozen, or more, properties you can begin to get some discounts when you purchase all of your insurance through one agent and increase deductibles but it is very much worth the effort to keep the premiums low.

"I want to make money in real estate" is not a 'why' - that is a what or a how.It took me over a month to come up with my why, and I ended up coming up with something that in the end became more of my life's 'mission statement' if you will:My Why - To focus the efforts of my life toward things specific to the service of those I care for, the acquiring of wisdom and knowledge for myself, or to gain understanding into the mysteries of the nuances of life.That is me to a T.

@victoriawinters     yes your absolutely correct invest ....that's why when I read these articles stating that its possible to make money with out money or credit I'm wondering how ..how do you do this I've been in direct sales for over 15 years and I must say I work my tale off commission only ..I don't sale I don't eat lol..but I love people ..people are my passion and sales allows my to generate based on my efforts ...real estate investment would allow me to combine my two great loves and take it to the next level.

But...If you aren't aware of the long running battle surrounding LL stock, there is a considerable short position including some activist investors and hedge fund managers who have been accused of using their considerable influence to provide misinformation about Lumber Liquidators (LL) and their products in an effort to profit from the drop in stock price.