You can call it speculation, or whatever name you choose, but the end result is cash in the pocket and the abilty to repeat.

Choose your poison wisely and go from there.

Obviously, you need to choose your team carefully.

They choose to create indentured servants whose votes have been bought one way or another.

Or you could just use someone else's credit if you choose.

Floors, Drywall repair, Paint and the rest of the basics aren't a ton as far as im concerned, the foundation and brick show no signs of weakness.

All the other houses are within 100sqft of this one.It needs paint, new appliances (low end stainless) in the kitchen, a tile counter top (diy) and to have the hardwoods refinished (diy also).I put a conservative estimate of $10,000 into repair/renos and the current list price is $112,900.

You can look at what similar buildings went for via the price per square, but it's true valuation stems from the NOI (Net operating income).If the gross rents are $3k monthly and the lease is a NNN, then your only expenses are accounting, legal, administartive, entity formation, and PM if you choose to use one.Assuming the total operating expenses come to 20%, your NOI= $28,800If the going cap rate in that area is 10%, then the value is $288,000If the going cap rate is 12%, then the value is $240,000.$3 per square NNN for industrial is pretty cheap, although I am not familiar with your area rates.

Where under the proper supervisoin we each should be getting a check every quarter on those gains where we could choose to reinvest or buy that new ipod.I do not condone some sort of violent revolution.

Loan/pro forma looked like this - purchse price on prop 135,000.0025% equity + closing costs (in money) +/- 35,000repairs loan = 55,000 (vandals got the pipes and it needed a few things)repairs costs = +/- 25,000 (balance to me as pay for management and painting and other little stuff)current monthly payment is about $750 per mo interest only until the 2 mortgages roll into one in Oct '09.