One thing I have learned is that if the deal seems to good to be true...Do your homework on this one, 95k + 12k may seem like a good deal and minimal investment, but we are talking about an extremely hard hit area of the States.

I found a condo close by that seems to fit the 50% rule, but I just wanted to double check with the experts:Price: $54,000Rent: $1,100 Mortgage: $43,200 (w/ 20% down over 30 yrs)Annual Rental Income: $13,200NOI 50%: $6,600Annual mortgage payment: $3,444Annual Cash flow: $3,156 or $263/monthAgain, just looking to see if the math was correct here and if you guys would pounce on a deal like this...

I found a condo close by that seems to fit the 50% rule, but I just wanted to double check with the experts:Price: $54,000 Rent: $1,100 Mortgage: $43,200 (w/ 20% down, 7% interest, over 30 yrs) Annual Rental Income: $13,200 NOI 50%: $6,600 Annual mortgage payment: $3,444 Annual Cash flow: $3,156 or $263/monthAgain, just looking to see if the math was correct here and if you guys would pounce on a deal like this...

This will require some homework on your part.

Do your homework.

However I have been doing a lot of homework...

But Pre-developed land is extremely risky unless you do your home work.

Most asset managers want the property of their books and do not have the time to hold your hand, so if you get a good price and do your homework you should be fine.

Even still understand the risks involved by thoroughly doing your homework regarding every aspect of the deal, as you'll want to minimize the risk as much as possible (and there's ALWAYS risk in any investment).

A good agent can be found but it requires lot of home work and prior research on it.Visit [LINK REMOVED] for details.