Whether that makes economic sense is also unknown to us since the varables to assess the idea are not present.

I never used the 70% rule, I figured all costs and then added in a minimum profit plus extras for unknowns.

Here's the details:Purchase Price: $62,000Closing costs: approx $3,000Monthly Rent ($725, unit 3&4 currently rented)Unit 1- 600 (2br) -newer cabinets and carpetUnit 2- 450 (1br) -newer cabinets and carpetUnit 3- 350 (studio)Unit 4- 375 (1br)Monthly Expenses- ($488, not including management or maintenance)Insurance- 83tax-138 water- 47 (total house-city won't provide separate meters) trash-18 gas-50 (owner pays gas for unit 3 and 4, 1 water heater for both units) electricity- unknown sewer-26 unknown (estimate based on local rates - 26)Maintenance ???

If you can locate non-MLS listings, now you have an unknown property.So, if you want to farm the MLS, go ahead, but you may find outside deals more profitable.

I have chosen to use other means of financing for this deal, mainly because - for me - there are too many unknowns and I do not invest in what I do not understand.

I have been ignoring him because I am kind of scared of the unknown since currently I use HML and personal funds for financing.

The reform is complex, and there are a lot of unknowns at present.

It certainly meets my criteria of 3 percentage points above the cost of money.Two unknowns for me are: how long till the refinance and how long from purchase to rehab and having it rented?

They are afraid to take that first step because it is a step into the unknown.

I know he didn't deed it back at that time.It's an unknown, unknown.