The appraisal was very easy, as the intown market has been booming for about the past 12 months.Actually, one of our biggest problems after doing these two houses was that the neighborhood got very hot and prices went through the roof.

It needs a good amount of work (biggest issue: new septic system on a low water table area)Anyhow, comps are hard to pull, but other similar properties sold for 190k in good condition.

What you get when you pay "for the bigger seminar" is an exclusive limited time offer to pay "for the biggest seminar".

You won't get any benefits of appreciation or depreciation.The biggest question that I have is your responsibility during evictions.

I did end up buying with seller financing, but it was a straight mortgage on a free and clear house.It seems like the biggest issue here is dealing with default.

That (the fact I was renting out my home) was my biggest concern about the process.

I also listen to the BP podcast, you guys are great.I think one of my biggest barriers right now to investing is the lack of a smoking hot deal presenting itself; I know I'll get flamed for even saying this, but looking at the NW side of Vegas, the best possible rent/purchase price I'm finding is around 1% rather than the 2% ROT I've heard.

The biggest issue is that you must be engaged in a trade or business to qualify.This goes to how do by our treat your rental activity.

And the biggest part of the picture you may not see is, homeowners or asett companies don't care who they sell the properties to they just want their problem solved as quickly as possible

The bldg was built in 1940. my biggest concern is lead base paint and asbestos interference during the rehab process. because of these factors, I will offer about $50K below asking price...see my scenario below and let me know your thoughts.asking price 83000 Purchase costs 65000 cost of home 30000 rehab costs 35000 includes LBP & asbestos abatement down payment 6500 10% of PP loan amount 58500 12.9 interest only for 5yrs inspection 500 appraisal 500 lender fees 2000 closing costs 2000 TOTAL 70000 Holding costs monthly cost for 3 months only mrtge pymts 1887 $629/mo. interest only loan property taxes 393 $1572/yr utilities - water 600 $200/mo for 3 months utilities - gas 600 $200/mo for 3 months utilities - elec 600 $200/mo for 3 months insurance 600 $200/mo for 3 months TOTAL 4680 Selling costs sales price 120000 commissions 7200 6% of SP closing costs 3600 3% of SP home warranty 500?