@Charles Street  I am actively looking for projects in those markets.WE are having a BP meet up Tuesday the 18th of Aug at my RE offices "Soldera REalty" Lake Oswego 7pm .. its above the northwest builders Association and Neil Kelly design'I will be supply Pizza and drinks for the audicance.

Here are the numbers I am seeing though on a monthly basisIncome $1400Debt service (assuming $0 down) $618Taxes $250Vacancy  $117 Lawn care $50Misc $84 (I am not sure what misc is referring to but ill leave it on there for you.)Cap X $114Management $114Maintenance $114insurance $114Monthly GOI = $1400Monthly expenses= $1689Monthly cash flow= $(289)Feel free to adjust these numbers and repost if I missed something or was higher or lower than what you believe it would be for this particular property. 

Or, am I missing something?

Clearly I'm missing something...any idea what it is?

So - you've made a poor decision, based on foolish misconception, lacking knowledge, and bad advice - and now you want to blame the PM for not being able to make money...did I miss anything?

If you missed Part 1, click here.

Here's one that most people miss....The IRS requires you to have a DOOR on your home office in order to expense the proportionate amount of your household operational expenses against your business.  

So if you do this, I'd suggest only allowing tenants who've proven themselves quality tenants and have a track records of never missing/late paying rent.I wish you the best!

I have missed many opportunities to start a real estate career, but didn’t primarily due to fear.

Which, is odd because I don't drink or even like to hang out in bars.