Usually they do since an appraiser will usually want to see I&E, but he's not going to parse it to the $0.01.I think if you make more NOI self-managed, he'll assume that is OK.Goal is to generate a CapRate (which I detest as a metric) for comparison sake,

E-trade for my example.

(I cheated and used my Deal or No Deal Real Estate Calculator and e-mailed myself the results but this should explain it by numbers:)Purchase Price:$100,000.00Estimated Repair Costs: $5,000.00Total Investment: $105,000.00Mortgage Amount: $75,000.00Cash Required: $30,000.00(Out of Pocket Money Required)Estimated Gross Operating Income: $1,200.00(Estimated Rent per month) Monthly Expenses: Vacancy Expense (%): 5.00%Management Expense (%): 10.00%Repairs & Upkeep (%): 10.00%Adjusted Rent per month: $900.00Property Taxes (Year): 1,100.00Insurance (Year): 900.00Additional Expenses: 0.00Cash flow before Debt Service (Month): $733.33Debt Service (Mortgage) Loan Term (Years): 20.00Interest Rate: 4.000%Mortgage Payment (Month): $454.49Monthly Cash Flow: $278.85Yearly Cash Flow: $3,346.18Annual Return on Investment: 11.15%Now, the 50% rule of thumb is a conservative approach to evaluate whether or not a buy and hold deal will cash flow.

What about the aftermath for w/e disaster it may be?

I would e-mail the listing agent, personally, as her contact info is probably on her website, just let her know that 90K is too much with those comps, but you are willing to work with her if she has a net figure from the bank to see if a deal can be made or not.

Congratulations on your first post - you don't have to e shy.Yes this property could be a great wholesale candidate.

E-mail me with any additional questions or contact him directly.

Originally posted by E Martin:...So I just received my first probate data cd from my county's tax assessor's office, populated with over 10,000 names and addresses ranging from 1968 to 2012.

Sorry Bill, that i wasn't clear in my other post.......The realtor said that it would be hard to find a deal like that in Carlin Ohio, just because there isn't many properties for sale in the area.....They said that you couldn't find any 3 bed 2 bath for $80,000 even if its a manufacture home.....They e-mail me over some properties that are on sale over in the area and they run about $125,000 or more....stick built or manufacture...Thanks!

If you are out of town, ask them to e-mail the contract for your review before the interview.