Did you study the dry stuff, like deeds, how title is held, contract law, laws of agency, Mo.

Hello everyone;I am a twenty seven year old college student; nearly finished with my associates in general studies, soon to be transferring to the UofM.

If it is closer to 10% that nearly doubles your estimated cash flow.I know next to nothing about section-8 renters so I would really want to study up on that before jumping in.Maybe the most important question is what do you think you could get the property for?

Thanks @Michael Morris I started work under a great mentor as a commercial broker in Chicago about 5 months ago, and studied abroad in Australia for 6 months.PM me, and we'll see if we can be sounding boards to keep each other motivated (cold calls can get monotonous...)

Here is a listing on LoopNet: http://www.loopnet.com/xnet/mainsite/listing/Profi...Is this a potential "value play" if the information in the listing proves to be correct (60% occupancy, 100K NOI, etc.) ?

It's great to be here...I'm sure that BP will prove to be an extremely helpful resource and that in time I'll become a regular contributor to the forum!

If I bought it subject to, assuming he has a 5% loan, I could pay $80-$81K and still wholesale it for $5K.But I'm not in your market and my buyers don't buy where you are.As for his asking price, every time a seller tells me what they want, I think about what I want; and that is to wake up and find a brand new high end sports car sitting in the 5 car garage of my 5,000 sq/ft house with a large in-ground swimming pool (I don't really want any of that, but it is just to prove a point).

I know some of this may be common knowledge, but I just started studying a few months ago.    

I needed to be physically present, and have proof of identity, along with several utility bills to prove where my home residence was. 

Study RE basics and requirements for good title. :)