Quick question: Doing a short sale:A 2nd lender has charged off the mortgage on a subordinate lien position.

We can show that the rent will provide a small positive cash flow, and the house will appreciate due to work being put in to the house.Or is it more common to get a loan for just the down payment amount and then get a mortgage to cover the rest of the house?

Bush because you'll be living with the consequences of his administration's actions for years to come and that ain't good.Not having to stare into the face of a totally blank minded, proven loser, will be the only positive to come out of this.

I'd like to start acquiring properties that I can rent for positive cash flow and hold them long term.

If by some freak of nature your house does end up with a positive ROI then my guess is that it is less than 2%.

Right now my strategy is to get 25 properties into my portfolio free and clear as the "foundation" to my portfolio, then I can approach the bank from a very solid equity position.

However, in my position is there anything I can even do in real estate?

I am in a position to make no contingency cash offers to the bank so I can get the best deal, and then refinance after any needed rehab is done.

With a more optimistic 40% for expenses, you have some positive cash flow.At $900/month and with realistic expenses, you're $150 a month in the hole.

In the majority of the United States, if you buy at a big discount and do everything right, you might be able to have a positive cash flow of $100 per unit per month.