(he get discouraged easily) We both enjoyed this!!

They will lose their lien rights.

This is a must if you dont' want to lose a lot of rent (and driving time) on turnovers.I don't rent to smokersIt is a RESIDENCE, no operating a business from the house.

if you lose it - well, it's $500 bucks.

The owner loses the house.3.

Therefore, in your case, here are the numbers:Gross rents: $2,800Operating expenses: $1,400NOI: $1,400Cash flow = NOI - mortgage paymentTherefore Cash flow = $1,400 - $2,600 = -$1,200 per monthThis property would lose about $1,200 per month.Since you are doing the management and maintenance, you would be able to add back in about 15% - 20% of the gross rents or $560 at best.

Old Thread......butYes you can get a proof of funds letter very easily which allows you to make a CASH offer.

Once you get that first deal out of the way it's like losing your virginity.

ok cool I love my mom and my parents - and since my mom is a real estate agent I didnt want to work with her as personal feeling or other things might get in between my ideas and purchases, so anywaysmy mom was explaining to me that since I am renting now I should be buying a house with a multi family and rent the upstairs floor, this will save me lots of money, this makes sense, since I do still work and do real estate investing on the weekendsbut I am still within my lease and can not get out (I can just lose my deposit and pay another fee) I was thinkin of gettin a multi family and renting both out with a pretty good ROI - this will profit me some money in my pocket though it will not be big atleast there is still cash in my pocket.What do you think I should do find a property and live in it and lose my deposit or stayin renting until the lease is up and currently get a investment property?

So, you would be putting down $80,000 of your own money for the privilege of losing $368 per month.