Here are the numbers:Subject Property:3 BR / 2.5 BA Townhouse, built in the late 80sMortgage Balance: $165kMonthly Payment: $1,867($1,610 (PIT only) + $83 insurance + $74 HOA + $100 in estimated utilities.)Potential Upgrades: Almost none, estimate $1,000 for paint/carpet, but it's good as-is.Seller's Asking Price: $348kI searched for similarly sized townhouses in the area that sold in the past 90 days, due to lack of comps, and I got an average of $265.5k.

But lower HOA is prefered which would reduce carrying cost. 4.

In some states, HOA liens stay, and so do municipality liens.

I own 3 homes in Las Vegas all free and clear.1 home is a 3 bed / 2 bath build in 1997 - 3 car garage, 1266 sf, in green valley henderson , low HOA, single story, fully rehab that I rent for a Section 8 tenant for $1253 per month.

The other thing that would need to be factored in is there is an HOA in that neighborhood, I don't know what the fees are.

Are you going to try to sell the property with a tenant in it - if not you're going to have several months of mortgage payments and HOA fees that nobody else is paying for you.

These guys are out there, you just have to find them.Getting approval from the HOA architectural board took a little longer than I anticipated, but we received that last night after a couple of plot plan adjustments and a good reference list (of which they called everyone on).That leads me to today - we finally started pushing some dirt around:It's not a great picture, but the dirt is now getting moved!

I would think if you could get a condo at $40K and rent for $800/mo you'd probably be in pretty good shape depending on the HOA fees.

I am fine with this as I myself can move in or rent out the rooms to students seperately until the cap opens up.Asssuming the asking price is 52K.Should I bid for 55K cash or 60K through finance.Tax+HOA is around 300, rents are around 1000-1050.

Sellers like cash buyers.As of a few months ago, banks wouldn't even offer financing for investment condo's in Florida (due to "housing crisis" and potential of HOA fees rising with so many owners not paying).