But at least you can see that you do have purchasing power should you decide to use it.As far as raising the limit on your card, if you have been using it I hope you have paid the balance every month.

Balance Approx $81k)Mortgage Insurance $457.69 Insurance $713.00 Taxes $543.00 Depreciation $2,343.00 Repairs $1,500.00 (Estimate)Total Expense $11,007.69 Net Income $2,192.31 Cash Flow:Net Income $2,192.31 Add Back Depreciation $2,343.00 Minus Mortgage Principal Reduction $(1,814.00)Net Free Cash Flow $2,721.31  We expect the property will need a new HVAC system ($2-$4k) at any time and there about 5 years left to go on the roof.

@Sarah Grise What are the two properties worth individually, and what are the total balances of your LOC's.  

She then produced the loan statement and mentioned that I could call the bank and ask about assuming the mortgage.The loan balance is 140K at 3.75% interest.

Our Social Security trust fund is predicted to be depleted in 2041.The recurrent argument suggests that without a gold standard (or a commodity backed currency), our government will simply print fiat money in lieu of balancing its budget, which mirrors what happened in other countries (such as Germany), who abandoned the gold standard, just before periods of hyperinflation.I realize that forecasting the future is a fool’s errand, but I would like to know people’s opinion about our current monetary policy.

The payments are computed as if its a 30 year loan, but the entire remaining balance is due in five years.I too would congratulate you on thinking like this at such an early age.

Wait until Ethanol costs you in the end.Worse fuel economy.Higher prices a products across the board.Damage to your engine/catalytic converter.Damage to you small engines.Ethanol also has a negative energy balance.

They are asking $49K, will consider 10% dwn, balance at 7%.

When the house is bought by the tenant/buyer the owner's loan balance is paid off and if they had any equity and they were willing to leave some on the table, your back end profit would derived from that.

You can make a §754 election to adjust your capital account balance up to the value that you paid for it and then book an asset for the §754 adjustment and depreciate that adjustment in the partnership but allocate all of that depreciation to you as the partner.You can always use me as your tax accountant as I will be available soon.Joe