The 50% rule is the formula most used to initially assess a property to see if it is cash flow positive or not.

Just like any deal however you find it, you need to do your due diligence to verify it is a good deal for you.

My goal is to get at least my initial investment back and have a property producing at least 200 pcf each month.Please let me know if this is a solid strategy what some of my next steps are.

.- Verify rental references.

I would use the board contract, if it says its not assignable, change it to Assignable and initial it (have seller initial also).

So, I can't speak to that...But, I don't believe that FHA and conventional underwriters will consider a seller-initiated appraisal in lieu of that previous purchase price when evaluating flip criteria.Regardless, being successful at any of these things seems unlikely, and I wouldn't suggest hinging your entire resale strategy on the hope that an underwriter is willing to be lenient or accept documentation other than the previous purchase price.

Have you considered purchasing a duplex to occupy one side and rent the other as an initial investment?

Lucy, call the customer service number for your Humana (not the number the "lady" gave you) and verify that they have people coming to your house.

Just have your attorney verify the authorized parties executing for the land trust.

Reacquire initial deposit and collect the difference in rent monthlyI'm from Philadelphia, PA and I'm not sure how the process totally works.