Thx again in advance.Expenses Annual Figures R/E Taxes $9,756 Insurance Premium $3,000 Maintenance $4,000 Water & Sewer $3,000 Common Electric $700 Gas Heat/hot water $0 Tenant Paid Management (5%) $3,937 Garbage $0 Ind.

Much of the Tenant-Buyer pre-screening can be farmed out to VAs who you pay to answer the phone (Google Voice, Vumber, etc.) that you set up to receive calls from your marketing. 

I looked up the status of the property tax bill and taxes are always paid before due date.

your statement was correct pre 08 but not post 08.In many ways with many HML getting a loan will require the exact same qualifications as getting a loan from a bank.. tax returns credit income and experince.. the place for the HML is simply banks DO NOT do rehab loans.. so this has allowed the HML to firm up the requirements.

Those investors MIGHT not want to be paid off depending what other things they have to invest their money in.Look at BOTH loan pay-down AND appreciation, we could pay off the first half of the private loan at about at about 2.5 years, and the entire 150K by year 5.Just my way of looking at it.

Should I expect to not get paid at all until I actually start selling property?

Second @Dylan Tanaka comments.We also have found that a great technique is a pre-recorded message the seller can listen to when responding to your marketing.

I paid the mortgage off years ago but do have an equity loan and line of credit on it in my name.I am looking to find a good group to work with and partner with as i begin, and my goal is in 3-5 years to be able to match my monthly net income, although i have no idea how it will all work so thats very tentative.I do know in the end i would like to have a net income that will allow me to leave my day job or be able to supplant it if for some reason it were lost. i am really driven to succeed at this.

At the same time, I would get pre-qualified for financing.

Our lender is currently trying to get this funded for us at 88% LTV and 100% rehab, with 3 points and 12 months with no pre-pay.