Don't just leave it laying around after you're pulled it off, or it will grow legs.Jon

Operating expense= 50% or rentUsing my example above, the $82/month for taxes and insurance would come out of the operating expense bucket of money, thus this would leave me $218/month ($300 minus $82 = $218) to go towards expenses such as new roof, vacancy, marketing etc.

However, actually creating a mortgage, then paying most of it back would leave the mortgage on the records without the corresponding debt.I don't think you want to have yourself as both borrower and lender.

That leaves you only $1600/year in case flow, or $16/unit/month.

I do have modifications on my 3 day notice to tell the tenant that they must get ALL their belongings out and that they must leave the property in a broom swept conditioni.

IMO this would be the way for you to go for quick cash with little skin in the game.

In some cases I just leave it all blank rather than fight with a system.

Study the forums carefully and make sure you completely understand cash flow inside and out if that is going to be your exit strategy when you decide to leave your first property.

We also leave a very detailed explanation of how we expect them to take care of the property and how they'll be rewarded for doing so.

Altogether, these will probably leave you between 10 and 15% of the ARV as your profit.