I also have good credit and part time self employed.

So I basically have seen two basic formulas on these message boards to determine whether or not a property is a good buy.For rehabbing: (ARV * 70%) - repairs = Max Purchase PriceFor Renting: Rent * 50 = Max Purchase PriceI would like to buy a property to Rehab, but be able to fall back and rent it if I can't find a buyer quickly... while also having positive cash flow after mortgage and operating expenses.If I put an offer on a property for $25k and the ARV is $50k (if I put in all new flooring, paint, and redo the kitchen and both bathrooms) that leaves me $10k (According to the formula) for repairs which I could likely do if I'm doing it all myself.BUT...That would have me with $35k into the property, and I am only confident of being able to rent for $600...

I'm confident that if that happened, this site would already have many more of the features that we've got planned for our users, up and running.

Call me please you'll send out 6 offers within a week and do it with confidence...If you want to run an ad it's not a terrible idea but I would't spend a lo of money on it.

Note to self...cancel bikini shoot....

When I jump into something, I want to be confident I'm making the right move.

But in your situation I would look into some investments, set your self up for a great retirerment while you can.

If you use the company as it is to be used, as a separate entity, then you will be able to protect your self from litigation and liability.

Expenses: $670 (40%, self managed) NOI: $1005 Cash flow: $328 I would just like to disagree with Wheatie here.

I do that for three reasons:1) I do self manage, and am willing to do most of that work myself for free.2) I'm not looking for any current income from these properties.3) I am looking for long term wealth.