Make sure you document your original cost so you can show the loss on your taxes. :-). 

You get that back if you sell, but if you keep it as a rental it takes 153 months or 5 years to break even on your down payment alone.https://www.redfin.com/IN/Indianapolis/1515-E-Kessler-Blvd-Dr-46220/home/66981054ARV / Sell Price$235,000We Calculate All CostsPurchase Price$152,750 65%Closing Costs$2,000Rehab$30,0006 Months Carrying Costs$9,114Real Estate Selling Costs$14,1006%Other$0Other$0Total Rehab Costs$207,964Now We Calculate ProfitARV / Sell Price$235,000Total Rehab Costs$207,964Gross Profit$27,036IRS Tax$4,05515%Net Profit$22,981Per month profit$3,8306Loan Down Payment$30,55020%Loan Amount$122,200 80%Loan Cost per rmonthPrincipal & Interest$8137%Prop Taxes$321Insurance$168HOA Fees$0Monthly Payment Costs$1,302Monthly Payment 1$1,302Monthly Payment 2$1,302Monthly Payment 3$1,302Monthly Payment 4$1,302Monthly Payment 5$1,302Monthly Payment 6$1,302Utilities for 6 months$1,302Total for 6 Months$9,114

Honestly, I am getting tired of sending notices every month and the $50 late fee (capped in CT) is not worth it.

I spoke to the manager this morning and they are getting someone at site today.I am in two minds here, my current lender would allow me to extend the loan with 1.3% origination with no prepayment penalty.

Originally posted by @Jon Kessler:Yes, I am currently running Facebook ads to find off market properties as a buyer and am enjoying some success.

if its the one that cost 10k and you have to split the first 500k in profit.then i think you have your answer.I fund flippers at 100% that I have worked with for years and I dont charge 10k and I dont take profit I just make my fee.. this guy is selling the dreams of making 250k and thats what they count on you hone in on that but you know how hard that is ?? 

Advantages for the seller are that they may be able to sell a property not fit for the MLS and they don't have to fix up the property to MLS standards, they save the realtors fee of 5% or 6%, it's a more flexible sale, they get monthly payments they can use for income.

Don't forget to account for the points and refinance fees you will pay for the new loan as well.

A 401(k) invested in the stock market has a lot of hidden fees.

To even do the app there was a $200 fee (that I’d get back on the HUD) Is this even normal?