At best this property would break-even.San Fransisco has an (overall) average rent-to-value ratio of about 0.4% -- far below what an investor can get in other markets with stronger economics and lower purchase prices.I think eventually you'd find a piece of property with a positive cash-flow, but the length of time you'd have to spend to sift through enough properties to find that "diamond in the rough" would make the effort questionable.Additionally, the very high land cost under those properties carries a high level of exposure and risk for any investor since the first thing to drop when the housing market turns and cycles down are land values.I hope to meet you one of these days Ben. :-)Continued success!

Most rehabbers that i know don't pull permits for anything other then serious structural work that changes square footage (room additions, expansions) and other new beneficial additions that need to be reflected on the title or public records (new HVAC with ductwork, changes of gas water heater to electric, etc).Hire a good good licensed contractor to give you an unofficial honest opinion for a nominal fee, make notes of everything he says, then hire an official inspector, see what he finds and also point out the things contractor mentioned to discus further.

If you can't carry the water, consider a partner who is familiar with your industry and make sure you can buy them out in the future.

For the most part Louisiana is much the same as other places I've visited (with the exception of New Orleans) just more water and humidity.

water is the enemy.

As of that time, my plan is to maintain my job as a construction worker for consistent revenue (have a family) and work real estate with most of my extra time (M-F late afternoon and evenings, Sat-Sun all day) While I will be doing real estate "part time" I will be able to put in close to 40 hrs/week.Once I am able to establish a base and feel comfortable in my earnings I will drop the construction and go full time.

i bought one house (forgot how long ago) that had an old, old carpet.. the walk areas of the carpet were so thin, that you could feel the hardwood underneath. when we went to take out the carpet and pad, the pad had deteriorated so much, that 90% of was turned into dust, the rest of it (10%) was glued to the hardwood underneath. it took us about a day with vinegar, water, and numerous different scrapers to try to peel the pieces and residue off. hosing down the floor would be a nice option. like a prison cell.

Although, I found out today the assessed value for 2012 was $22,360 and for 2013 has dropped to $13,350 so I would think the taxes will be less this year.Plugging all that into BP's mortgage calculator I'm coming up with a monthly payment of $324.58.I've confirmed the rent should be $650.

Williamsburg rents $775. leased 12/1/20123. separate utilities4. utilities paid by tenant5. unsure (I asked how old the roof was)6. both have been partially or totally replaced in the last year (HVAC system)7. hot water heater dishwasher (new replacements)8. none known (serious issues)9.

Price - 18500Total Taxes annual- 1852Insurance annual - 525 Renter pays electric, water and gas Deal 2 I am in talks to buy a 5 family home owner financed for 61k.