The tenant moved out and owes me for last month and a half rent plus utilities.

Also contact an appraiser and inform them of you intentions to purchase and ask it they will provide you with a desk review or approximate market value in exchange for consideration of utilizing their future services.

For example, you completely ommitted advertising, management (even if you do it), maintenance (even if you do it), legal expenses, evictions, setout fees, damage done by tenants (in excess of the security deposit), entity maintenance, utilities paid by the owner during rehabs and vacancies, capital expenses (although not technically an operating expense), lawsuits, etc, etc, etc (I could go on and on and on).The good thing is that you're at break even, so this is not a disaster.

OK here's all the info I have: Two properties w/8 fully rented units, $3890 gross income/month, seperate utilities.

The repair money would be placed in escrow and FHA approved contractors and materials would have to bu used for payment from escrow.

I did most of the work myself in hopes of gaining knowledge of the skills/tools/materials involved in remodeling.

They cut it up, put in roads and utilities, build houses and sell them.

My cost for ALL MATERIAL was $1100.

(A Virtual Assistant is an independent entrepreneur providing administrative, creative and/or technical services utilizing advanced technological modes of communication and data delivery works from their own home office on a contractual basis).

The other thing we do with lease options is make the tenant responsible for repairs and all utilities if they were to own it themselves.