All of my customers are construction related since my background has been in the construction industry.I joined the Air Force as an apprentice carpenter and became a superintendent within 5 years.

Here is how I see the deal.Asking Price- 600,000# of units- 13 Gross Operating Income- 71,820less Taxes- 3087 Insurance- 2310Repairs- 6875 (added 25% to estimated price, )Utilities(common area)- 400Misc(pest, snow,landscaping)-2300Net Operating Income 56,848lessMortgage Payments 46,800Cash Flow 10,048Now I will not be offering $600,000 but really wanted to check with some of you experts to make sure I'm not forgetting anything.

Mike:I have a customer/friend in Orlando that is stricktly a lease option "pretty house" investor, and he has HUGE success targeting the preforeclosures.

Her edge for me to consider her over others is that she can offer higher and stable rent, but I need to verify if her higher rent is including utilities ASAP; she asked me to increase my asking rent to what she’s allowed from section 8 if I can provide her a cooking stove, and to install central air which I’m considering anyway.And what should I tell my other turned down qualifying applicant without any discriminating element that I might not be aware of if they ask for the specific reason after I’d told them that I’d already chosen a financially better qualifying tenant over them?

He says, on average, his expenses over the years have looked like this:Buying costs are generally 1.5% of the selling price Holding costs (utilities, taxes, etc) are usually 1.5% of the selling priceSelling costs are generally 6.5% of the eventual selling price, after repairsHe projects the months required for rehab work (holding time) with the following formula: Rehab cost per square foot, divided by 10 + 2.5 months to market & sell Do you guys think these numbers are accurate?

We have also built custom homes and did some land speculation.

While you are driving track your progress on the map with a highlighter, so that you will be sure to cover the entire area.If you use farming as a tool you will enjoy the benefits of working in an area where you are familiar with the neighborhood, your customers are familiar with your marketing, and your closing officer will become familiar with you.

In addition to what Ned mentioned, you will also have advertising, entity maintenance, legal fees, evictions, court costs, periods of high vacancy, damage done by tenants (in excess of the security deposit), lawsuits, utilities (at least during vacancies), etc, etc, etc.

I was shocked to hear that some of these "services" charge up to 2 months of mortgage payments (between $5,000 and $7,000 in CA).I'd appreciate your opinions and experiences with these services, either as a customer or entrepreneur.

It is custom to have 3 years income/expense reports and or 3 years tax returns on the property.