Do that analysis for every component of a building and you will see that you need to put aside many thousands of dollars in reserves every year.I suggest you search the site for the 50% rule.

I will definately take each one to heart.Justin I am currently paying for the Rich Dad Coaching but I am debating to cancel.

Meaning what the law says is what you can't do, not what you can do (then there's case law, which can define what can or can't be done, depending on the situation).

But, from what you're saying, that doesn't sound like it's the case.Did he give you an estimate up-front or define a fee schedule for his time/work?

Restricting the land use to agricultural business could then define the note as a commercial loan and avoid the seller financing issues over the term of that loan, while the loan is outstanding.

I woulx definately suggest talking to some smaller banks first.

As far as the interior goes i think that shower may be salvageable, but the ugly countertops and cabinets in the bath definately need rectified, same goes for the kitchen.

You'd pay him a monthly interest payment and then pay off the note when you sold, which would likely be after a pre-defined period of time or event.

You definately found the best place.

Investors need to define their involvement in RE first, time, money, management, supervision, maintenance, are all areas of RE that need to be considered in holding RE as an investment.