I wanted to add the cost I said for your kitchen is based on having to do primer and and 2 coats to cover the blue.With my units I am going over white that is worn down so I don't need as much paint to cover a larger area.Some nicer quality paints are mentioned in some other posts which I can see using in a flip or a really upscale high end rental area where the tenant demographic is different.For rentals I use paint that is cost effective and will pop and carpet that is made for wear and tear for the type of tenants I have.All they usually care about is it's "fresh and clean".

Being on a busy street shouldn't have a negative effect on renting but will have some draw backs when it comes time to re-sell.

I've made offers on several short sales in the past but never actually bought one.I've been told to put language in the contract to the effect of "property will be delivered vacant and all of owner/occupants' or tenants belonging will be removed before closing date".What about the final walkthrough?

Basically what happened was the builder did not complete the project and built only about half+ of the town homes, and some are not paying HOA now, so effectively there is a 50% HOA deficiency.

But for now, I'm going to build a team by networking and research effectively on way's to avoid mistakes.

His effective tax rate may be 20%, but his marginal tax rate, and what this would be taxed at, would likely be higher.

A great tool for wholesalers or anyone who plans to use it to sell their own properties (like me)!

But, by specifically stating a "Cash Flow" number that doesn't include these expenses, you ARE ignoring them.To not ignore them, your cash flow statement should be, for example:Cash Flow: $309 MINUS OPERATING EXPENSESAt very least, you should include a disclaimer to the effect of, "The Cash Flow and ROI numbers do not reflect the inclusion of operating expenses; actual cash flow and ROI will be lower."

I would also like to work closely with other investors to help them succeed in their ventures.BP has been a great resource and I will use it as a tool in my arsenal to continually learn.

I am happy to share my experiences and even some tools I developed for myself.