She was leaving a 15 yr relationship and needed a place.

I would love to just dive in and get started, however; school debt and my mortgage are leaving me pretty empty at the end of the month.

If you consider money is 7% these days, that only leaves you 5% of the $80K each year to pay all the expenses and for profit.

We don't want to have someone click and then leave our site.

So, I would probably leave them alone.Gary

That would leave room for a $2,000 assignment fee on this deal.

Therefore, if the rent is $500 per month, $250 of that is used to pay the operating expenses, leaving $250 for debt payment.

If you have a property picked out take photos of it, get the tax docs from the courthouse and draw up your income/expense estimates for the first year and show how you will make it work.Place COPIES of all of these papers in a 1/2" three ring binder that you can give to your banker and leave it with him.If you have a good well thought out plan and good credit you should be well on your way to getting pre-approved for your investment property.

Knock on doors, leave flyers.

I'm about to jump into a sandwich lease option and had a question regarding what happens after a tenant buyer backs out or leaves?