Up/down double $57,000 purchase price (hopefully less)PITI = approx $500/mo with 25% down conventional loan$14,250 down + closing costscurrent rents total just over $1200/mo for both - leases in placelandlord currently pays about $200/mo for water/sewer/trashI figure about 10% vacancy and 10% maintenance which leaves me with about $400 monthly cash flowThe two major concerns I have are that it needs a new roof (tear-off) and that it has a funky layout.

I will be in charge of all numbers, calculations, finding deals, talking to contractors etc.

I thought about using a release agreement and charging the Buyer for me to release the property to them considering my efforts in negotiating the on the home, locating the property and any repairs I may need to make to help the property p*** inspection for FHA loan.

They charge us in rent what they pay in expenses on it.

Hi @Patryk Sommer,Save the extra 1.5% down to reach the 5% down minimum on a conventional loan.

To me, good credit and a background check is so that I don't have to charge you full rent up front.

Up/down double $57,000 purchase price (hopefully less)PITI = approx $500/mo with 25% down conventional loan$14,250 down + closing costscurrent rents total just over $1200/mo for both - leases in placelandlord currently pays about $200/mo for water/sewer/trashI figure about 10% vacancy and 10% maintenance which leaves me with about $400 monthly cash flowThe two major concerns I have are that it needs a new roof (tear-off) and that it has a funky layout.

Totally worth what they charge to avoid trying to dig into all the details yourself.Also, you can only depreciate the building, not land.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

@Melanie HeigesThe cable from Spain to Virginia Beach has been laid underground finally and there is going to be a giant data hub similar to Ashburn VA near corporate landing.There’s tons of develop that is going to create jobs and hopefully make the market boom.They are also building a giant sporting complex near the convention center.