i've pushed closings back so i could close the first day or so of the next month, that way at the closing table i'd get a nice fat check for pro rated rents..way to think outside the box!!

These are the fun suckers a year or two in if they are at the end of their lifespan.You can PM with the city the property is in and I can give you the rent and utility allowances for the property based on HUD FMR Tables....#2: Should I consider a property manager and can I afford it?

Try to get a private loan that you can later refi out into some other type of financing so you are literally bringing cash to the closing table.

What are you bringing to the table at this point?

I remember the stories of when Israel air bombed Saddam's French-built nuclear plant Osirak back in the early 80s, back when Liberals used to remember that Saddam had WMDs.

I knew my multiplication table through 12 before I finished first grade.

Property Description:2 building 9 unit apartment complex located in a downtown area of a Midwest city with inter-state, water, and rail transportation systems in place.The building is about 40 years old, but has been maintained very well.Building is 11750 Square footThe lot size is 16350 square footNew roofUpdated interiorhard wood floors, crown molding, and French doors.Units: 5 3 br, 3 2 br, and 1 1 brGross annual rent $55620, 1 3 br is vacant, rent would be $750 per month.Asking price $400,000.00Seller agent claims NOI is $43200 per year, with taking in to account the one vacant unitSo, if NOI is correct, the cap rate would be10.8.Using the 50% rule the cap rate would be 6.95.Assuming the complex was full, the cap rate, 8.08.Not sure who pays the utilities, I am still waiting for the seller's agent to send me more info.Cash flow:Gross rent $55620.00 with current vacancy.Expenses 50% rule $27810.00Per unit $257.50 per monthNOI $27810.00Seller is willing to finance 80% at 7.5% over 30 years with a balloon payment in 5.P&I $26849.88Leaves $960.12Or $8.89 per unit per monthNow, I am just getting started, so I have exactly no cash to put in to a deal, unfortunately.Assuming similar terms for a loan for a 20% down payment, but with a 9% interest, that would be a payment of$643.70Per unit $71.52Net cash per unit of $-62.63At the asking price of $400K, I think this property is over priced.

A Friend is taking my four hollow core panel doors to a friend of his to have him trim them to size with his table saw.

What happens when things go wrong and you have to bring more money to the table, what if one of you is broke and can't contribute?

HUD would not confirm that, but Fannie Mae's chief economist Doug Duncan said it is definitely on the table both at HUD and at Fannie."