@Chris Allen, if you want to be thorough, make sure to account for the following expenses:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance  a) Property Hazard Insurance (0.3-0.45%)  b) Flood Insurance  c) Earthquake Insurance  d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy)  a) Water § Sewer § Garbage  b) Electricity  c) Natural Gas  d) Propane9) General Maintenance (usually 5%)  a) Upkeep § Landscaping  b) Snow removal  c) Repairs  d) New Appliances  e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...  

It was an okay book, but E-Myth Mastery was a much better tool for this endeavor.

The person did not leave a forwarding address (I have e-mail and/or phone number, social security etc. though).

E) Wholesaling: Is it ethical?

Investment Info:

Single-family residence fix & flip investment in Long Beach.

Purchase price: $379,000

Cash invested: $20,000

Sale price: $450,000

This was my first flip in California. I fou...

I am guessing that this amount is even lower if your lender is using the Schedule E expenses from your tax return instead of the 75% number.  

@Lynnette E.

Can you get a schedule E from the their tax return?

I like to suggest that if one has a certain guru they kind of like.. simply go on E bay and that guru's written materials and CDs will be for sale usually for 50 to 150 bucks.. so for maybe 500 to 1k you can get a huge amount of information.. then figure out what U like.. there is no super secrets in real estate most of it is pretty straight forward.. 

Or worked w/ Danny E.