Probably 50 miles away.

I have a stock portfolio, and sock away on a monthly basis way more than 50% of my after-tax take-home pay.It has taken me years and years to get to this position, a position that I consider to be very solid at this point in my life/career.

Say it was an average of $50 a month.

@Adam Hollandsworth The great thing about real estate is that there are no rules on how or when to get started, all it takes is motivation and coordination with your team (bank, realtor, etc) to close on a deal.

It is going for 109,000 I want to try and get it for 90,000.Monthly gross rent-$1650Expenses Tax-264 a monthWater- 100 per month estimatedHeats-100 per month estimated insurance-100 per month estimatedvacancy-115.50 (7%)Capex 82.50 (5%)Repairs 148.50 (9%)Management 165 (10%) P&I 386.51Garbage 50 per month estimatedTotal 1,511.68 Monthly Cash flor 138.32COC- 6.64% Pro Forma cap rate-4.84%purchase cap rate- 7%2% rule 1.70I don't know if the seller would accept 90,000 but its a smaller place needing updating and has been on the market for about 130 days.

It tends to be  significantly more than a typical cost estimate for a sub It is always a good rule of thumb to judge rehab costs by if they have to come out and handle the scope of work or for lack of a better word everytime "they touch" the work your costs go up. 

This isn’t anything new this has always been the rule with Fannie/Freddie for cash-out refinance.

@Jason GravesI recently heard this rule of thumb: If you can realize ten years of cash flow through equity today, sell.

He would have to go to court and have a judge rule the QCD to the wife of his half was fraudulent.  

Here's a link to the BP page for events within 50 miles of Philly:https://www.biggerpockets.com/forums/521-events-an...Meetups will be posted there.