Be logical about what you will have to cover with deffered maintance, etc.I agree with Nathan, the return looks good provided all the numbers work out as you state.

I've seen it with a few properties in my area and it didn't seem to work out well.

The office I've been blessed to work out of is one of them.

My only advice is only take deals in which the numbers make sense to hire the work out for, otherwise you're just paying yourself as a contractor and not as an investor.

I am not sure how I could ever get this too work out with this structure.

I would think you could then work out a deal in 3 or 4 years where you either buy it from her as a rental or find a way to rent it out together, LLC or something.

They don't work out for you.

I also identified some quirks in my mail merge that I need to work out.1/2/13 - Very light day.

Jasmine you need to get the basics down.Lender is usually just holding paper and not on title for the property unless they foreclose or do a DIL and take the property back.A property can have many mortgages by different lenders on it.Usually the senior lender in the first order of recording has senior position unless they grant a junior lender a superior position above them in a default workout but it rarely happens.

You then upload the pictures to the firm who will work out the numbers and depreciable amounts.