Hi Everyone,Not quite a new member as I've been a long time reader working on building up my knowledge base but this is my first post as I'm finally ready to jump in and take action.

Readers are advised to seek professional advice.

As a reminder for any other readers, the 50% rule applies to gross rents and accounts for all expenses like management fees, taxes, insurance, vacancy, maintenance, Capex, utilities, water, legal, yard, etc..You should only use the 50% rule for a quick analysis and a true historical picture of expenses on a property is preferred.

Readers are directed to seek professional advice.

And I hope other readers are paying close attention. 

Here are my "readers digest version" numbers and explanation:Property: 3/1.5 SFHPurchase Price: $59kReno budget: $20k (went over a little so will actually end up around $22k)appraisal: $105k as isARV: $125k (estimate per appraiser based on repairs/ reno list provided)Current Mortgage: $431/ month (20% down on purchase price, 100% finance of repairs 20 year am. with 5 year balloon at 5.25% commercial loan)Rent estimate: $1050/ monthThe commercial lender should let me cash out up to 80% of the after repair appraisal as long as my DSR is above 1.2.   

Hello, to all readers!

Hey all,I'm a long time reader, and now a first time poster.

I also enjoy helping coach my sons little league team and am an avid reader. 

Gonna stop the questionnaire here before we loose all the readers.