It just depends on if you need to be closer to Brown/Red lines or if Blue might work.

As you may or may not know, the real estate market has been red hot here with inventory very low and demand up super high.

Less environmental red tape on the East side of town.

The bold figures above is all you need to apply this rule of thumb to:Estimated Gross Operating Income (Rent/Month): $1,200.00Now take 1,200 and multiply it by 50% (0.5) which will yield you 600.1,200*(0.5)= 600 This will factor all of your expenses tied into the property such as management, vacancy, depreciation, taxes, insurance (as noted above with my calculator).Next you will take 600 and subtract debt service, which is your monthly payments towards your loan:Mortgage Payment (Month): $454.49600-454.49= 145.51 Cash flow/monthThis last figure is the conservative figure you will collect after everything is all said and done, which is your cash flow.

This should help accelerate the process of getting electricity back on at the home.Tenant recieved the following support (partial list)Red cross $130 debit cardAlso paid for hotel @ $65 x 3Red Cross also offered to fund $400 towards deposit for new residenceThe school also provided financial assistanceUnited way offered referrals to local agencies, but no direct helpReferred tenant to contact catholic charities - known for being helpful---------------------------------------------------------------------------------------------------------------Part 2 - no specific order2 Big errors made:Missed a spot where water accumulated in the basement (in a pile of clothes and junk that hid it very well) and is causing mildew issuesWAS NOT PRESENT FOR AN ELECTRIC TURN ON.

But reporting huge repair expenses in relation to your rental income is an easily spotted red flag on your return.Reporting losses by aggressively taking lots of repair deductions (that you might have alternatively capitalized) will also lessen your chances of getting bank loans in the future, as banks like to just take the results off your tax returns, regarless of how much you say, "yeah, but..."

What were the 3 biggest red flags that these prospective borrowers should have seen?

See the part in bold above...that's not what you said earlier...In your previous post, you said that the plan was to go back an amend the tax return was already made, but that the action wouldn't be taken until later.

This evening I decided to drive by the property and I noticed a red sign on the door that says "Vacated... home is uninhabitable" posted by the city.

As a lender, not being able to pay your bills and spending too much money are two big red flags.My best recommendation is to start working to improve your financial situation (pick up a couple books on money management, fixing your credit, etc) and start saving money.