We are drawing illness to ourselves.

- - - - -(Please note: all properties will be submitted to the group for consideration, but not all will be accepted.)If this is something you can work with let me know.Stu Stanton

I had posted the following (shortened a bit) in another thread on this subject: I've been sitting on the fence (for the most part) for the last 3 years,, I've got a decent income from the mortgages I hold, a little bit of residual from a company I sold and my wife just started drawing SS a few months ago.

But I might give it serious consideration if the offer had a pretty realistic pro-forma (expected) P&L attached that showed me the buyer knew what he was doing and was not a babe in the woods.At that price range I doubt the seller really expects a complete noob to come up with the money.

The operating expense on the LA home could be considerably lower than even 30% of gross rents.

I'm learning a lot and re-reading this post made me think that one hopes there is some sort of reference material for how to form a HOA out there.Does anybody know where developers / new homeowners go to form boards and draw up the articles?

Taking into consideration any repairs, maintenance, and unexpected vacancies, what would I need to be netting from rentals each month in order for the deal to be worth it?

Being a landlord in a tough neighborhood presents challenges, however if the property is a moneymaker it is worth consideration.

-Jerry There are other considerations that Intuit (Quickbooks and Quicken My Rental Property Manager) don't address, namely: 1.

With that being said, do you know the price range a Attorney would charge to draw up a contract?