Hi everybody,I am looking at 4 homes (all 2 bed/1 bath) on the same lot being sold together (with owner financing) in Connecticut.Please take a look my expenses below and let me know if there is anything missing, because right now it is only a break-even (or just barely ahead deal) but the units are in a great location.

It looks good to me, but nothing gets by the Deal Analysis Forum.Here are the details:Asking Price: $230,000 (I ran my numbers on $220,000)Units: (4) 2 bed / 1 bath, rent for $700 eachBuilt 1966Tenants pay utilitiesIncome: $700 x 4 = $2800 / month or $33,600 / year Expenses (per month): Insurance: $66Taxes: $346Vacancy: $280 (10%) Management: $280 (10%) Misc repairs/Long term capital expenses: $428^ I just took 50% gross rents and subtracted all other expensesNOI: $1400/month = $16,800/yearFinancing:$220,000, 20% down = $44,000Loan of $176,000 at 5% interest = $944 monthly payment Cash flow of $1400 – 944 = $456 or $114 / doorOR (if I Owner Occupy)FHA 3.5% down = $11,000Loan of $209,000 at 3.5% = $1,012 monthly payment NOI of $700 (since I will be occupying one unit) means cash flow of -$459 (assumed $147 of PMI added)This property is in an ideal location - great neighborhood, proximity to schools, park, and community rec center.

We saw a little 2 bed brick bungalow on Hubzu listed with a minimum bid of 32k.

As I am quite young (24 years old) to start out in this field, I'd like to start small with the capital I have and work my way up from there to invest in more and more condos as rental properties.The property I am looking at is a 1 bed 1 bath unit in the same building as my parent's condo.

Welcome to BP Lex.Yes, there are some serious issues with a newbie trying to wholesale pre-foreclosures, like federal laws about contacting one who has received a notice of foreclosure.It's been beaten to death here, suggest you use the search box, use your title, it should pull up pages of posts of the pitfalls. :)

[if they have sex in their bedroom without their animal in the room, in the bed in fact, with them, are they not disabled enough for you?] 

I have since done a complete rehab with new kitchen and bathroom, high end carpet in the bed rooms, porcelain tile in all other house space, deck install and all new appliances.

7 bed 3 bath, 3300 sqft, 1/3 of an acre.

I've done comparables in which my subject property and the comparable had identical square footage and lot size, both three bed two bath, built within two years of one another and were only a quarter of a mile away.

In one area I have property, a very common floor plan has two beds, bath, kitchen and living room on the ground floor, along with a one car garage.