But correct me if I'm wrong but this seems like a pretty good deal, especially considering the house is <10 years old so maint. should be relatively low.

That is, to make it serve its expected function.Wheatie (and MikeOH) are correct on this.Part of the logic is the NOI assumes no financing in place, all cash purchase price.

And you are correct, most students try and skip the last month's rent.

Then the only one who could get in front of you would be the IRS - is that correct?

Hopefully, this is being posted in the correct forum.Question - In order to provide turn-key property management services in Illinois and Missouri, what are the guidelines and licensing requirements?

While I agree that it doesn't make any sense to get into a negative equity deal, I assume your father is buying this as his personal residence, correct?

This seems to be really enticing if the numbers are correct!

So this means I needed to get PMI insurance( note the 58,300 is with seller cons. included) I want to know since its assessed for more than I paid this is technically equity built in correct?

crentalguy is correct!

mnmoney;in reading these posts here, i really like your thinking and way of executing this.....but, correct me if i'm wrong. isn't the land trust method a way to do it only when the end buyer is an "all cash" buyer?