nice) and have killer rehabs without the need to hire an interior designer and do extensive staging.

NOT USING AN ATTORNEY NOT WELL VERSED IN FORECLOSURE= I have seen hundreds of closings where the buyer was utilizing an attorney or settlement agent who did not understand the concept of Insurable Title, or that Time is of the essence when it comes to deadlines.

Taxes, insurance, debt servicevacancy rate, repairs, mantaince, utility bills ( a vacant unit in Indiananeeds heated in the winter to prevent damage).

Site located right across the street from tourist train depot depositing upward of 50,000 visitors per year.Buidling renovated with new systems about 10 years ago - pretty good condition, etc. 100% leased presentlyRents (6 tenants) - $42840 ann.Expenses - Management - $3500Taxes - $2000Water - $720Insurance - $3500Vacancy $3500 (+/-)Repairs $2500 (tenants responsible for interior maintenance - LL is only shell of building and HVAC systems)No common area utilities - all seperate meteredNOI - $27120 (8.34 CAP) - with zero down.Although it shouldnt matter in the deal eval., seller has agreed to finance $100 K (on a second to close after I do the first mortgage) at 0% interest for 5 years (principal pmts.

Check rents, leases, bank statements, tax returns, utility bills, or anything else you can get your hands on.

The other negative item to flipping is the larger tax implications, unless you utilize a 1031 exchange each time.

Go to the meetings early and stay late, utilizing the most from conversations you have with the seasoned investors.

If you have a croporation as apposed to getting taxed as an indivdual there are slight differences between their tax brackets (indivdual is usually better), but the profit is not in the bracket itself but in the incentives that one can utilize under corporate law.

We would have to put in a road, and all utilities for this property and would want to make an nice entrance...since thia is an upscale neighborhood.

Those people with decent incomes, who took out extensive lines of credit, overused the credit cards, got that expensive home, car, boat, vacation home etc. and have been able to tread water to this point because they have had some savings (quickly becoming depleted) to keep out of the ditch--so far.