Pre-probates, too.Have you thought through your ideal exit plan?

Ideally I want to do 2-4 unit building and build on this.

Ideally I wouldn't be able to find a bigger deal that I could structure like all these little ones Ive done and avoid giving half my deal up.

After a couple strokes of good luck, I suddenly have 20-25k a month to save and potentially invest with for at least the next 2-3 years after living expenses are all taken care of.  

Still hoping to make this deal work, I'll update with any changes.The 50% "rule" says, long term, you can expect 50% of your ideal (market rate) gross operating income to go to expenses. 

I am new investor, focused on getting that first deal done, and I'm following a system in which you focus on one specific neighborhood, using a realtor and MLS, "in your own backyard" that consists of "ugly" homes in ...

Just something about a 2 stroke race bike does it for me, I just had to sell my CR125 cuz of money problems. :( Reminds me:Next is my 2006 F250 turbo diesel king cab or extended cab whatever.

I deal almost exclusively in REO's now.

The ideal plan, would be to have an investor buy the property for us and then we would lease to own from the investor, paying him a percentage higher than what he paid for the property over time.How much do you have as a downpayment?

By the time I got it fixed up (major) and put on the market the subprime market was non-existent - which would have been the ideal target market for this house.