I listen to Dave Ramsey alot and he is totally against partnerships in Real Estate and his reasoning is the same as mine.

I located a rental from the mls. 7 units. 2 commercial, and 5 residential with 2 bedroom and bath. the building is a total of around 12,000 sq ft not sure how big the commercial spaces are.

You need to put down 25% and get a mortgage under 3%.So... if you don't count your 'use' as a significant 'return' - this is a total loser, right?

Into property for 268K total.

I didn't quite know the difference between the 2.. now I am totally clear on it..question for you.. as a wholesaler who has signed the purchase contract, what are the best escape clauses to use in the event the end buyer's financing does not come thru or other title issues may come up?

I think he is asking too much, but would like feedback based on my description.Rent in the area goes for betweem $850 and $900 per month, not including utilities.Using 5% down, and financing the rest with two loans (80% LTV for #1, and the remainder for #2), gives me a total P&I cost per month of $775, plus taxes are $126/month and insurance is $57.50/month.

Hypothetically, say your 33,000 SF office building has 3,300 total expenses in utilities a month.

Thanks.5 Unit aparment house in Rhode Island7 Parking spaces for add. incomeAking 299,000Purcahsed for 250,000 ( 16% less than asking price ) 299,000 - 250,000 = 49,000 / 299,000 = 16( 25% Down{50,000.00})200,000 mort.30 Years7.8% fixed1439.74 monthRental Income525.00 for average unit ( This may be off for this area or not )Gross Monthly2625.00Yearly Gross31,500.00Parking Space Income175.00 month ( 7 x 25.00 = 175.00 )175.00 x 5% vacancy = 105.00Parking Space NOI 1995.00 yearlyExpensesGas ( 50.00 month, 600.00 yearly )Electric ( 100.00 month, 1200.00 yearly )Water ( 70.00 month, 900.00 yearly )Total Utilities ( 220,00 month, 2640.00 yerly ) Vacancy ( 131.00 month, 1575.00 yearly) (31,500 x 5% = 1575.00) Taxes ( 275 month, 3300.00 yearly )Insurance ( 100 month, 1200.00 yearly)Yearly Rehab ( 75 month, 900.00 yearly )Yearly Maint

Thank you for your feedback,Rye-----Gross Rent Income = 100%Vacanciesvacancies aptsmove in concessionsskips and bad debtsTotal Vacancies = -10%LaundromatTenant ChargesApplication FeesCleaning/Damage/PaintLate/NSF/Legal FeesForfeits/Lease breaksPet/Key/ID feesTotal Other Revenue = + 0.8%Management FeesManager SalaryManager Rent Free UnitLegal FeesAuditing FeesBookkeeping and AccountingManagement Total = 8.2%(All utilities are paid by tenant.

Where I plan on buying the Duplexes go for around 120-150k and rent for a total of $1600-$2000.