Your 40k can mean a completely paid off house in one neighborhood that might potentially cash flow 2% per month.

Deal analyses below:Property #1 Purchase Price:$82,000Projected ARV:$105,000Post-Rehab Appraisal:$111,000Estimated Rehab: $11,000Actual Rehab:$14,518Financing:1st close: HML for 90 days at 9.99% and 2 points; 2nd close: 30-yr fixed at 4.375% and 0 pointsClosing Costs:$6,982 (2 closings)Rent:$1,200Cash Flow: $327 (after maintenance, vacancies, etc.)Cash on Cash Return:11%Timetable:Rehab Complete – Day 15 (started Day 1), Tenant Occupied – Day 60, Refi Complete – Day 83Property #2 Purchase Price:$120,000Projected ARV:$160,000Post-Rehab Appraisal:$162,000Estimated Rehab: $18,000Actual Rehab:$18,034 (amazing I got so close on this one)Financing:1st close: HML for 90 days at 13.99% and 3 points; 2nd close: 30-yr fixed at 4.5% and 0 pointsClosing Costs:$11,977 (2 closings)Rent:$1,420Cash Flow: $258 (after maintenance, vacancies, etc.)Cash on Cash Return:7% (not great, but at least I have some equity)Timetable:Rehab Complete – Day 25 (started Day 10), Tenant Occupied – Day 44, Refi Complete – Day 50Key Lessons Learned:Be super diligent on the refi process. 

3 x 2 BR Apartments @ $700-$750/mo.1 x 1 BR Apartments @ $550/mo.4 x Studio Apartments @ $400-450/mo.Commercial is 1450 sq. ft. and should rent at $11-12/ft.All units have completely separate utilities, except water.  

Hi Michael Mims,I noticed you said the market is hot right now, we completed our first flip and sold closed on it back the summer. 

I would like to know what is the best way to organize my files/system to keep track of my rentals.Will I want to open one bank account for my complete portfolio or separate accounts for each unit/building?

If you negotiate a good enough deal that pays you then complete the transaction with the investor to buy the house you have under contract.

If a customer doesn't respect the fact that you are entitled to a fair profit for work completed, they'll just badger you and nickel and dime you on every project going forward.  

Up to 5k can be collected from the program if your section 8 tenants cause damage that your deposit doesn't cover.I believe the deal is you have to go to small claims as you normally would but if you win the government will honor the judgment not the tenant.  

The reason I want to pull money from my properties is to reinvest in the market .Pittsburgh's market is very hot right now and there still are tins of treasures that have not been claimed .

To fast forward, essentially the husband had work across many different states/projects and their circumstances changed causing them to move back to their hometown within 3.5 months of starting their 1 year lease.The signed lease was very tight (no PM, just realtor, great neighborhood/friends and us) and covered us for many situations but I do want to get some clarification or advice on best course of action for the following:(please note this info is just from my googling/common sense and again I have no claims to be right in any situation here)1.