Hi @Vishal Patel, since I just started to learn about real estate I too felt weird at first of the "subject to" but after reading up on it, it could make perfect sense for the seller in a tough position as most seller are not trying to ruing their credit. 

I've never rented a house, only apartments before I bought my first and only house.Is it so commonly known who pays which utilities that landlords don't bother listing that detail?

My question is, does it make sense to buy an "already" rehabbed property or just rehab a distressed property with an after rehab value equal to the "already" rehabbed home?

Thx again in advance.Expenses Annual Figures R/E Taxes $9,756 Insurance Premium $3,000 Maintenance $4,000 Water & Sewer $3,000 Common Electric $700 Gas Heat/hot water $0 Tenant Paid Management (5%) $3,937 Garbage $0 Ind.

Hi there -- I'm very new to RE and BP, so apologies if common economic logic already answers this question.I live in Chicago along the Blue line in Logan Square, which is a "hot" neighborhood.

Most common mistakes and what to avoid.   

I have a number of friends/family/coworkers offering to invest in our business, so I am leaning strongly toward using their money for transactional funding which does not appear to be very common.  

I am not certain for personal mortgages, but I believe 1 year is the most common and have heard 6 months as well.

if I go by your numbers 54k purchase price amd 24k for rehab  that's 78k you're going to rent 2 units for 750 so that's $1500 a month.you should calculate the expenses taxes ,insurance,maintenance etc and see if the cash flow will make sense.. you can use the 2% rule which in this case looks like you're right on the money. . so if 54k and 24k are right numbers and this is not a complete war zone were you would get your $1500 every month with no problems than this should be a good deal..check again for the rehab costs with a local contractos ask to have written estimates. also see if you need to pull permits.. these takes time and money. .good luck!!

I'm open to whatever is going to make the most sense.