There was even speculation on being able to salvage the plane intact which for a water ditching is amazing.

$180 mo. water/trash ----------------------------- $1,110 total Rent collected: $575 x 3 = $1,725 + cash flow of $615 per month (vacancies and management fees were not calculated in, as this property previously had no vacancies and since empty, you'd be getting all new 1 year leases).

Last week I discovered a water line break outside.

^even water?

Rental properties get deductions for any actual expenses, like taxes, insurance, maintenance, property management, legal fees, tenant damage over the security deposits, etc., etc.

Plus, management, taxes, damages, etc.

Same with the taxes, and PMI.I write off half of the water bill.I put about 5 grand into the house.

Long story short the 3 main NEEDS in life are : Food, Water, and Shelter.

(Realtors) identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public...

Jeff by all means jump in the water, it's fine :mrgreen: just make sure you have your floaties on1st things 1st is if your new to the short sale arena I would maybe think about hiring a buyers agent to protect your enthusiasm.