Please feel free to correct me if I'm wrong.

Corrections can last 10 years or more.

Please correct me if this is wrong:From the net operating income I can deduct...annual depreciation (cost of property divided by 27.5 years) +total annual mortgage payment +total annual insurance payment =after tax cash flowDid I miss something that I can deduct... or did I add something that I cannot?

I believe its 6 feet, and if I remember correctly if you have one on the circuit it protects everything after it.

Based on the second method, the purchase price is to high based on the other numbers, correct?

You're correct in your thinking.

Your are correct on the turn times for that particular lender, 5-7 days from "submittal of full package"; but this is still slower than HML.In any event, all 3 sources would be good options Gdchil1.

correct?

I'm pretty sure that Ryan is correct about the usury laws, and anyway if you charge so much interest that the investor who's borrowing it can't make a profit you'll end up with a bunch of property that you don't want.I've made some HMLs and I've never charged anywhere near those numbers, although with points and fees I make sure I'm NETTING a very nice return.For those kinds of numbers you have to become a "payday" lender.

Am I putting all of the bits and pieces I have heard over the years together correctly?