Example: If you can sell the property for 150K with costs to get it sold of 15K (commissions, closing fees), spend 100K buying and repairing and holding costs, this leaves a pre-tax net of around 35K (150 - 15 - 100 = 35).

This leaves $13000 for PITI, which, according to the seller's old pro forma we were given, was approx. $10,500/mo.

I'm trying not to be discouraged...And I certainly don't want to jump just because it seems like a good deal...I think the part of my equation that I'm not factoring in is this:If I get the home at the rate I hope (60k) and I borrow 80k that will leave 20k in reserve.10k I will keep untouched for unexpected things.

Tell them if they are interested then leave a message.

Diane,You will need to figure out what the market value for the home is right now and figure in a percentage to come up with your sale price.You can either leave the rent where it is or increase it $100 and tell them that the extra money will go towards the purchase of the home and it will help them with closing cost.

The problem is that this note would pay out in less than 12 years, leaving a balance on the underlying mortgage.

Leave it on the market.

what i have looked at i just see what the houses in the neighborhood appraise at then how much repairs are needed on the house and put the numbers together to come up with an offer im sure im leaving something out but dont know

You're right me and Jeff and even countless others want to protect the new guys from being scammed so we are going to call out people who don't come up with some sort of proof that any program they promote or praise works.We are going to keep calling out people who don't fess up about these programs and if that means coming down on them hard then so be it anything to keep the new guys for signing up something that they will regret later on.If you can't handle this J Lamar than your only recourse is to leave the site because whether or not you like it we are coming down hard on shills big time.Can't handle the heat get out of the kitchen as the old saying goes.So either fess up and provide proof or don't complain and cry when we call you out and criticize you for it.

Just wanted to give you guys an update and not leave everyone in suspense... lol Thanks everyone, man I love this forum.