g=7wFf )Keep in mind, using the 1% rule of thumb (monthly rents ~= 1% of basis) and 50% expense rule of thumb (operating expense and vacancy ~= 50% of gross rents), unleveraged, results in 6%.

Unfortunately things are very expensive down here (in my opinion) and it doesn't seem to be as simple as in other markets.

I am hoping to make $200/month in cash flow after all the expenses.

Since I recently had some expensive credit card and medical bills, my cash reserves are extremely limited, but I would very much like to make this deal happen.I own two other rental properties and both currently have tenants.

Also, is there any phone apps anyone uses where you can log expenses so they don't have to keep a shoebox full of receipts.

No response so far.I am about to send it all back and get a refund (they claim that if you are not happy, you can get 100% refund within 30 days.)I'm posting this to ask if anyone knows of Chris Johnson and his program and if anyone has had any luck.It's not expensive like other gurus and he claims to refund your money once you get a grant. 

I was able to look up the property taxes, calculate my mortgage and insurance and some of the monthly expenses.

But you must stick to your numbers. hard money is expensive and if the job goes sideways you need as much cushion as you can get to cover the carrying costs.

The loan is an expense for the C corp and this would not be income for me so no 50% tax paid.

I'm running numbers on potential rental property purchases and the monthly expenses beat out monthly income drastically.