I have also screened thousands of applicants and find the overwhelming majority of low and lower-middle income tenants have TERRIBLE credit.

I know I have seen a ton of NCND’s in my dealings with Bulk REO and this sounds like a silly line from someone that does not know what they are speaking about in the Bulk REO arena or some type of scare tactic that would never be collectable.

If there are major problems, you could be in for a money pit.

In fact, I've probably said dozens of times that THE VAST MAJORITY OF NEWBIES FAIL IN A SHORT PERIOD OF TIME!

Have to have some major issues all the time to hit those numbers...Let me know how this goes/went.

This is a major hit, because not only is your income subject to being taxed as normal income, but you may also be subject to an additional 15.3% self-employment tax.

I deal in the 3 major cities: Toronto, Richmond Hill and North York.

Aurora Services for Lehman, and still does the majority of their npn portfolio.

., and you found an apartment for $600k with 11,000 sq. ft of rentable space, that warrants further investigation, i.e. cap rate calculation, DSCR, & ROI just to name the major ones.Bottom line when looking at cap rates, here is a standard formula I use initially: Take current gross rents, less current vacancy, arrive at AGI (adjusted gross income.

Things like closing costs, utlity expenses, mortgage interest probably needed to be taken in the year they were spent so there was major kinks to be worked out in 2007.