I think you will also have many more repairs than are found initially. 8 years is a long time for a property to be vacant without major damage being done to the property.

This time I scared the deadbeats into deediing it back, saving me $1200 or so in attorney fees, and got a $2000 insurance settlement check from them for some damage caused by "vandals"-probably their tenants as these guys were, unknown to me, trying to be landlords without having a clue what they were doing.Anyway I've been working on it for 3 weeks, on thier utilities and insurance and now have a contract for $100K.

I have played many sports and many for years, football, baseball, basketball, soccer, golf, swimming and water polo.

It’s the next few that will permanently damage your rating. 4.

Add in principle payments, taxes, insurance, association dues, vacancies, maintenantce, advertising, tenant screening, legal fees, evictions, tenant damage, etc., etc., and you're in the hole several hundred, maybe even close to a thousand a month on that one property.

The second difference is that you will have "loss of rents" coverage, which you don't get in a homeowner's policy, which pays you for any rents lost during repairs from damage that is covered.

So, your division into the different percentages may or may not actually pan out.You've missed some items, like advertising, tenant screening, tenant damage, legal fees, cost for a CPA.

If you do not have any contingencies or escape clauses you could lose whatever deposit you put up and the seller could sue you for damages.

I waited to evict them in the hope that way pay up, however in the meantime they caused thousands of dollars in damage.

To tell you a little bit about myself, I am a young and very aggressive investor who took to this business like a fish to water.