Some of you might have guessed by now, and you are right, I am in the military.I have been researching/drooling over the thought of buying real estate to increase my wealth and secure my financial future.  

I think stories from our lives can sometimes be the most valuable lessons to help move our business in one direction or another so here it is.Yesterday my dog was not looking good.

I don't allow dogs, but if a tenant has one when I buy the place and the dog is well behaved I allow them to stay.  

I will still keep both my finance and real estate license but I want to step up my investing game and get off the porch and run with the big dogs. 

They have violated dog policy without paying dog deposit and recently the tenant bring someone else knew as he claim new wife.

If the repairs being done by the contractor are due to inspection items uncovered during due diligence and a condition of purchase was to have the units fully rented, I do g see the issue by seller performing.  

You could be what we call in this industry a "bird dog" for the mentor.

Guard your cash like a rabid dog.

Here's what I have on this....Purchase price = $20,000  (it's a 3/1, and one half of a duplex)Repair/closing/holding costs = $46,500 (it's also a dog, though has great bones, no foundation issues, and no "major" structural problems, just needs everything)ARV = $80,000 (maybe closer to 90k, trying to be conservative with all numbers)Rent = $1,100Vacancy = 8%CapEx = 5% (since most all work will be completed)Repairs = 5%Ins = $55/mo.Mgmt Fee = 10% (to pay myself)Property taxes are currently $125/yr., though will increase in year two to aprox. $750/yrThis is by far the worst property on a great street, probably a "B" area with many young families who are buying properties in the area. 

So 6 people in a small 750 sqft 2 bedroom apt (plus a large companion dog).