Tenant pays all utilities, water and sewer, and is responsible for snow and lawn maintenance.So, anticipated annualized numbers:$9063 income ($795 monthly rent, 12 months, 5% vacancy)$1200 maintenance / capex$3,300 interest / insurance / taxes$4,563 profit to put in my pocket and /or pay down debtI expect to replace the water heater and replace the chimney with a B vent in the not too distant future, and there are some beautiful huge trees on the property that are healthy now but will be expensive to take down when they do die.  

Most everyone on BP knows and understands I use simple and direct language, mostly so I don't have to wear my fingers out typing flowery beat around the bush suggestions that I might use in person, it also comes from my Army background, I have a spoof about guru boot camps.If you get to some of my motivational rants, you might wait until you have thicker skin as it takes thick skin to be in real estate, we don't have the more pleasant, more humane and ethical aspects of corporate life at the beginning of a real estate adventure.

I should probably be modest as a newcomer, as wearing alligator skin shoes probably suggests success when I have yet to begin, not to mention the actual expenditure. 

The evidence of questionable activity for me was when they called and said the place was infested with bugs, they went to the ER with "bugs coming out of their skin".  

I think you can do just as well with a healthy relationship with a local mentor in your proximity, augmented by the vast amount of knowledge and wealth of resources on this site. 

That being said, I am an attorney and I have seen many judges find ways around binding a party to a contract where the other party had 'no skin in the game.' 

Assuming all is well and the tenant is a qualified buyer, I then advised her that she needs to secure the non-refundable option fee up front of at least 2.5% with the remaining 2.5% to be paid on an instalment contract and held in escrow over the lease option term so that the tenant buyer can prove to the bank that they have "5% skin in the game" when the time comes to be approved for a mortgage.

Hello Everyone,I recently moved back to Utah about two weeks ago after having been in the Los Angeles/Santa Monica (CA) area for the past nine years and am looking to build a real estate network for great learning opportunities, healthy networking and ultimately helpful feedback as I move forward with my first real estate transaction and beyond.

Not for me; the fact that you can add $65k in value with a single bathroom is mind-shattering to me, at least in our market, which is pretty healthy.

That will get you to the buy price at a healthy profit or cash flow.