Hang in there.

Balance Sheet can show how much was a building was purchases for, how much principal loan is still outstanding, how much is in escrow and how much is in tenant security liability, Construction typically in the long-term development are put in the balance sheet and not P&L.Most investors are doing multiple type of real estate, not just rental.

Please advise what should I do in this situation.

Hello,My wife and I are in the Lansing area. 

Welcome to the BP family and congrats on diving in. 

Network Network Network (On the fourms, 1:1 coffee/lunch with local investors, agents, lenders, and in-person at local real estate meetups) - Here is local meetups listed in BP:  https://www.biggerpockets.com/forums/521-real-estate-events-...1. 

I have about 950k in properties.

In my market, median price for SFH is around 270K and median rent is ~1750K.

An example of this is I had one trash company that collected the same three containers for $90 less than the in place trash removal company. $90/month X 12 = $1080 increase in NOI, at a 10% cap rate that small change increases the value of that property by a whopping (1080/10%=$10,800)!

You’re not getting paid to buy it so it wouldn’t go through your broker but you better make sure you disclose you’re an agent to the homeowner in the contract.