Great area - here are my numbers: Monthly Annual Purchase Price 168,500   Monthly Rent 2200 Cash to Close (20% + $4k close costs) 33,700   Annual Rent 26400                 Property Tax $375 $4,500     Insurance 100 1200     Mortgage 835 10020     Vacancy (5%) 110 1320     Repairs (5%) 110 1320             Total Expenses $1,530 $18,360   Net Income $670 $8,040   Net Income without Mortgage $1,505 $18,060       Cap Rate 5%       Cash on Cash 24%    

Upon closing, insurance said it needed a new roof or they wouldn't insure it - damn, $2200 spent right off the bat!  

Considering the cost of the mortgage, insurance, taxes, and monthly maintenance, which place brings in more cash?

PROs:Adds a level of professionalismAccess to MLSNetworking with other agentsAccess to resources of TREC, TAR, NAR, SABOR, & other groupsListing your owner propertiesAbility to earn commissions (or given them up in order to get a deal)Ongoing education that keeps you at the forefront of the market, legal issues, & trendsCONs:More liability (assume professional liability)Some people just don't like RE agentsRealtor - often considered the last bastion of hope for people who have failed to launch a  successful career in anything else.Dues, Fees, Insurance, Expenses in GeneralSubject to rules and laws that don't apply to non-realtorsHaving to work with TREC (they are just very slow and cumbersome to work with)For me, I find it worth it to be a professional in my field.  

One municipality I invest in you need insurance that covers demolition in order to get an occupancy permit to rent the property.

In our case quantity helps us because of our strict purchasing standards.

I am currently in the insurance business been reading Brandons book and landed on the site for more info.

You will need to know any taxes and insurance cost along with any management fees, utilities or lawn care you have to pay while owning, along with taking repairs and vacancies into account.

The holding fees would be Taxes , water , lights , swear & insurance .

In fact, not only will they buy me the house (paying the mortgage) but they can pay for my retirement contribution, purchase me a new car, pay for my annual vacations, my medical insurance, my kids college tuition.