We got it down to about 169,000 in just under a year by taking some equity out of the house, 401K and literally eating peanut butter and jelly sandwiches daily.

And of course the first place I eat, every time, when I get in town is Demos'.

Look at all the fat cat bankers that put together all those subprime loans.

Personally, I'm ok with eating "some" costs ok that first house because it is a very nice house and in the long run, I'd like keeping it.

It's not some flip robot that you just put in motion and then find fat checks in your mailbox... despite the claims.

If I did I would have to ask them if they drink and measure their body fat % to see how much of their income they spend on fast food and how quickly they wear out their shoes and that's just silly.

One rough eviction where a tenant strings it out and tears up the property, can easily eat up a year or more of rental profits.

It depends on what you could buy it for and your liquid cash left over to take down deals.If you have 100k to your name and the plan was to buy this property and see if you can turn a profit then I say you did well to pass.If you had 600,000 in cash and bought this for 100,000 and still had 500,000 to play around with to grow cash flow ahead of inflation then it might have been worth a shot to go for it.The property taxes will eat you up for carry costs.

Rolling is the worst, even if you use a mini roller in my experience, almost impossible not to get "fat boys" as we call them, along the bottom of all the slats.

I'm comfortable going back at $84K since that was my original max bid and that is what my bank has alread written a pre-approval for, but $85K starts eating into my already thin margins.