May not be suitable for all cases, in fact a creditor(your lender) may file a Relief from Stay (when a creditor is permitted to take action to collect his debt or to regain possession of its collateral) and your main reason, your mortgage on your home is set aside from the bankruptcy, followed by headache, nausea, upset stomach, diarrhea, and loss of money for paying an attorney group for a cure all that didn't work."

You haven't accounted for; Reserves for future capital improvementsturnover costsmanagement feespest controlCommon electric, hallways etc. permits licenses and registrationsany inspections required to get the aboveand more I haven't thought of.

I'd say there were 40-50 newcomers at the Q&A session.

The office will close around December 1, 2006.Building Permits===================http://censtats.census.gov/bldg/bldgprmt.shtml?

Go to city planning and determine which/where/why/when/who/what type.... building permits have been filed for projects in your area then, research those areas as well.

(b) If the tenant abandons the dwelling unit, the landlord may send notice to the tenant at the tenant’s last-known address both by regular mail, postage prepaid, and by certified mail, return receipt requested, stating that (i) the landlord has reason to believe that the tenant has abandoned the dwelling unit, (ii) the landlord intends to reenter and take possession of the dwelling unit unless the tenant contacts the landlord within ten days of receipt of the notice, (iii) if the tenant does not timely contact the landlord, the landlord intends to remove any possessions and personal effects remaining in the dwelling unit and to re-rent the premises, and (iv) if the tenant does not reclaim such possessions and personal effects within thirty days after the notice, the landlord will dispose of them as permitted by this Section.

I called a friend who has been doing flips for a number of years( met him thru an investment club in 08) to help me with contractors, permits, etc. as I am fairley "new" to the game. as sort of a mentor thru the process.

This post is NOT meant to be an "end all be all", but simply a jumping off point for newcomers who are theory educated and NOT experienced educated (like me) to best determine what they would like to focus in.

Sean,In my area that would be referred to as a "rooming house" and there are specific bylaws at the municipal level governing them: they can only be in certain areas and require a zoning designation / permit to allow occupancy that exceeds another local bylaw limiting the number of "boarders" in a single dwelling to three.As far as rental laws, check with your state's Residential Tenancies Act (or equivalent).

To give you an idea of what this means, there are 40,000 concealed weapons permits in California.