A 4plex say pulling in 1200 a month would have mgt at about 120 buck or 12 buck an hour.

Look closely at your market, gurus will claim you can make big bucks, reality is that you need to rent far below market to have a spread for the brain damage and risks and you should be insured as well.

I won't turn out a shoddy product just to turn a buck because I'm a firm believer that karma or the legal system will bite you in the ***.What rubs me the wrong way is when someone like Bill Gulley makes assumptions about me as a person by saying, "your 'I'll foreclose take it back and do it again' tells me two things; 1. you are not aware of the legal aspects of lending and 2. that allowing your buyer to fail is not that much of a concern to you".

Spending a couple bucks with a tax / real estate attorney would make the most sense.

Purchase criteria can be your desired yield, investment term, property type, geography, occupancy, maturity, performance, etc, etc...the list goes on.

Spend a few hundred bucks and have an attorney do it for you.

I am well aware of the "I want to wholesale and make a million bucks tomorrow trap".

As long as you close you have the option of switching where the funds came from.Again go see a atty they can prob clear this all up for a few hundred bucks.

Since that time I have put in a new drivers side seatbelt ( 230 bucks), new starter (240 bucks), new back trunk electronic latch ( 120 bucks ), new brakes (400 bucks).

I first start looking at the stuff for sale because you can find deals and make a few bucks.