I may need to read it a few more times to fully digest it but to summarize, are you saying that I need to be open minded, flexible, and adaptable to survive long term in this business?

I'm just about to start direct mailing absentee owners for the first time, so hopefully I will be summarizing my 2013 results a year from now.

This link summarizes it best:http://www.minassiancpa.com/articles/realestate/closingcosts.html

Summarizing, 3 people want to invest in a deal that I found a few weeks ago.

Say if you work 9-5 and go to bed at 11, you have 6 hours after work, maybe an hour before work as well.To summarize, in my view, the perceived laziness is a result of disenchantment of the compensation system of today.

Can someone help me out by listing/summarizing all the costs associated to buying a piece of property?

This would shave $140 off the $230 and still leave you only $90/month positive cash flow.To summarize: Your numbers, at best, give +$90/month.50% rule gives: +$56/month2% rule gives: 1.05% ((monthly gross rents / (purchase price + rehab)))You left out cap-ex.I would pass and find a better deal.Hope this helps.

Thank you for the advices.To summarize...it will be challenging but the suggestions are:1 - Contact the County Treasurer to get my money back, least the profit they made (unlikely), claiming the information was incorrect.2 - Try to sell to the neighbor at discount.3 - Get a LOC on the land to invest elsewhere.

To summarize:  I bought a vacant property at a tax deed auction in Texas.  

In the case of my property, Bob had been seen a couple weeks prior to his disappearance by my colleague, who helped keep an eye on the property, changing the locks; only my colleague and Bob had a key to the new lock.After Bob vanished, I was left with about $10,000 worth of paid for, unfinished work, plus the additional $10,000 I had to shell out, and my colleague was out approximately $15,000 for starting his second property.ITEMS AND OBSERVATIONS AFTER THE FACT:Bob had about six investors (that we now know about), both local and out of town, who had the exact same issues in the same timeframe;When he disappeared, Bob had approximately $100,000 in paid for, unfinished work between the six owners, not counting tens of thousands of dollars in shoddy work, ALSO not counting the losses of items stolen afterward;After Bob’s disappearance, EACH one’s property was broken into, with the loss of appliances, HVAC components, granite countertops, and all varieties of building materials, adding up to tens of thousands of dollars;Bob is known to have used fake and unrelated addresses, claimed possession of properties he didn't own, and generally changes his stories when pressed, especially when called out.Bob utilizes two long-expired contractor license numbers on the letterhead of his estimates, and he has no current licenses.To summarize this review, STAY AWAY FROM THIS MAN AND HIS ASSOCIATES!!