Our plan is to take her security deposit to pay for the replacement of the carpeting and to write her an invoice for the remainder of the bill and take her to small claims court if she doesn’t pay the outstanding balance.

I have been driving for dollars and taking an hour a day to drive around to check out these pre-foreclosures & vacant homes the last 2 weeks and then if they look like a good fix n flip or rental, then I will go home and write a hand written letter to them.

What kind of paperwork should be in place to legalize the investment and I understand I should write a check to his company not him personally? 

I will write all about it in the next few weeks.If anyone has any questions, please let me know.

The owners are an older couple who aren’t necessarily real estate investors, I think they just owned this for a tax write off.Any help is greatly appreciated!

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For the sake of keeping on point, this is an example of how to use a Monte Carlo simulation….not the ins and outs of my proforma calculationWith ModelRisk installed you get a new tool bar.Which has lots of great functionality that you can explore but here are the basics.4)You need to identify your output variable.

A 30 year mortgage puts you in the game where you can write off interest rates and other real estate associated expenses.

Beautiful idea, but hard to implement.My thought process with this one is that it's not functional for the everyday landlord (pay X dollars to modify, pay X dollars to switch back afterward for an average tenant).

I'm always thinking of the 3-star guest that some owners rate as a 5-star when I write reviews and will not think twice of rating a 4 in the weak area.