Even with flipping if you use hard money the lender will want skin in the game ( money down and points ) to do the loan.The reasoning is if the rehab gets tough the HML wants it to be painful for you to walk versus just handing it back to them.A good contact for flips is J Scott on here.

That sort of talk leave me very concerned about why you would make that leap.Now, I have seen situations where kids bought a house with a "mother in law apartment" and let mom or dad move into that.

So if they're supposed to get 10K keep 5 until they're out so if they don't leave then you start collecting their "rent" out of that and start filing your eviction.

Leave your number and convenient time on my office number below.J Scott is right "Short" sale means the purchase price for you, should be short (less) than the amount owed.Hang in there Buddy!

Leaves a cash flow of 7k/year before taxes & depreciation to stash some away for a rainy day and some for principal reduction/another property.Maybe in a year I'll be begging for mercy at my ignorance.

Something about it more and more gets on my fighting side.Why do dog owners leave it laying around all the time?

When I was finished pricing everything out and was about to leave, a huge, brand new Cadillac SUV pulls up slowly.

On to 2b:Cash Invested: 28000 (20K down, plus closing, cosmetic fixup, and holding costs)Gross Annual Income: 14400Expenses: 7200Debt Service: 4723Cash Flow: 2477An income of $2477 on $28000 invested gives you a pre-tax return of 8.85%.The fact that in 2b you leave the mortgage in place introduces another factor – mortgage paydown, which affects both your taxes and long term return.On an 80K loan with 4.25% interest, the principle is reduced by an average of $112 per month during the first year, or $1349 total for the year.

If you have a joint bank account as an unmarried couple, thinking you both contribute to pay expenses and collect rents in it, the other person can empty the account and leave town and you don't have much recourse.

After 5 years 80% of the agents that lasted that long end up leaving the business.