I had a guy bail & leave the wife & disabled child without any financial help.We gave them the month to leave as the home was too big & utilities too high for her to manage.

Here are the numbers:20K in repairsTaxes are $2400INS is $2000Separate utilities except for water and trash: ~$100/month Will manage myself.Finance is 20% down at 4.75%, 15 years.Thinking to submit an offer for 85K.

Contract states that due diligence does not begin until I have given my written notification that I have received all requested documents.During due diligence I request the following documentation:P&L Statements.Seller's Tax Returns and Bank DepositsLease agreements and rental receiptsCopy of current management contract and payroll registerCopy of insurance policyCopies of service and advertisement contracts (Trash, Water, Util, etc)Confirm any existing liens.WHAT IS THE BEST WAY TO GET TAX RATES, SINCE THEY MAY CHANGE AFTER THE SALE?

We are in the beginning stages and wanted to utilize our first home as a learning experience.

After those calculations I am at 73.3%.From that number I will subtract $2,000 (unless I can estimate better) for taxes, insurance and utilities for 6 months.

But I will qualify that by saying I haven't researched the issue, done "subject to" transactions, or extensively studied the TREC contract to see how it interacts with the DOT.

Not included are repairs, capital reserves/improvements, vacancy, any owner paid utilities, and management.

If you paid 100K for the property and expended 25K in initial capital improvements, then use 125K as your cost.Going forward, you would put together your operating forecast/budget to include all the typical expenses: utilities, property tax, groundskeeping, admin, marketing, etc along with your allowances for vacancy (8-10%), maintenance (10%), and property management (7-10%).

These include, but are not necessarily limited to Origination Fees, Bank Fees, Attorney Fees, Title Insurance, Recording Fees, Hazard Insurance, Property Taxes, Transfer Taxes, Commissions, Home Warranties and Utilities.

The site is:www.therealalliance.comThey appear to have everything you need to get started readily available for you to utilize and maximize your deals including virtual assistants and software to keep your team informed and on the same page.Any and all feedback is welcomed.