If everything checks out and there is no major maintenance issues, it seems like it would be a good property.I would also ask to seller to see the terms of the lease with the tenant.

To me that says major leaks getting worse, or a car wash / laundromat operating out of the building. :-)Ryan, Brian may also have specific recommendations for a contractor for you.

.$$ for a drafting company stamp$$$$$ for structural engineer servicesI currently have to fork over $$$$$$$$$$$$ for engineer to help me do site revision on commercialSo get your degrees it will help you and your networkingI went to an engineering school, too bad all my friends aren't local, I was business major.

We ended up spending WAY more time than expected and our income per hour was pitiful.It seems to me that the majority of people who sign up for a program like this are the type of people (frequently, not always) who want it all handed to them without doing the work themselves.

Steve Babiak good point, 50% sounds high to me but it's a hard statistic for me to gather because we're a velocity based note fund so the majority of our assets are resold.

I can make those decisions with an email or access to the following information.The address of the housePictures of the following Kitchen Bathroom(s) (tub, vanity and floor) Roof (reasonably closeup) Front View Rear View Furnace AC Hot water tank Window, typical of the majority in the house Garage door Fireplace Driveway/Sidewalk Garage if free standing Main electric panel Anything wierd, or destroyed that is not on this listSome rehabbers may want comps, I run my own.

What I would ultimately love to setup would be a seller carry back deal where I put the money I do have as my down payment, get the rest from the seller as a second, and finance the majority of it through a tradition institution.

My wife and I do not have children and she works in O&G upstream for an oil major, so most of our earnings go to purchasing houses.

Simple calculation - average rental period for the area and "good tenant" profile (in our case, for instance, in Japan, its 4-5 years in the singles' units we like most), take 25% off that time for unexpected downturns (or more if your area is notoriously unstable), and work out the percentage 1/2 or 1 month rent income is of that period (in our case more like 1-2 months).I think, in the vast majority of cases, and particularly if you work out how many empty months bad screening or management can cost you, you'll see there's no doubt as to the financial gain potential a good PM or tenant placer can be worth.And that's without even taking into account the personal toll of time and resources spent when you do it all yourself...

You dont need to be a business major, but it will help you.Get an engineering degree , law degree.