So those earnings streams are worth less in the future.Cap rates are a good way to compare properties in similar areas because for the most part a metro area will trade similar to itself, ie its growing at the same pace. 

After playing around with the numbers to try to understand where the $389k list price came from, I believe the owner is basing that price on an income stream with no budgeting (maintenance, vacancy, cap ex, property management, etc) and purchased in all cash (which reflects their situation - fully paid off). 

My wife and I both have steady corporate jobs with a reliable income stream, and the bank was willing to lend to us.

. - Able to put 25% or even 30% down.Cons:- Self-employed and income stream not steady.- First-time landlord.

Hi everyone, just wanted to quickly introduce myself, my name is Daniel, i'm residing in the downtown area of Miami and am looking to build a longterm RE portfolio as a passive income stream.

Any significant amount of  spilled water on them will ruin them, water getting though the joints to the "engineered" backing, swelling up.

They'll spill stuff on the carpet.

Instead my wife and I were left contacting an endless stream of people who would express interest in completing work only to never show up at the appointed time.

As far as flooring Laminates do not hold up that well to moisture (ie water spills, milk spills etc.)

However, I also understand that obtaining financing for an LLC is often difficult (especially if there are no pre-existing assets or income streams).