If your emotions are taking priority over your business the road ahead for you is going to be a bumpy one.

Got ahead of myself there.

That's actual cash.If my focus is on cash flow, my bills are based on monthly payments, I'm further ahead with the cash flow...the moving targets.  

Thank you ahead of time for your response

/month in cash flow (after all expenses, including a PM) once I do the Refi.3 - Must recover any cash I put into this deal, including cash back and cash out from the refi, and cash flow, within the first year.Example #1:  Total cost = $55k; ARV = $60k; 75%ARV (refi) = $45k; Cash OOP=$10k; MP = $300/m Cash Flow before refi (6 months) @$700/month = $4,200Cash Flow after refi (6 months) @ $400/month = $2,400TOTAL Cash back 1st year = ($3,400 loss)I wouldn't do the above example #1 since I would be $3,400 short at the end of the year.Example #2: Total cost = $50k; ARV = $60k; 75%ARV (refi) = $45k; Cash OOP=$5k; MP = $230/m Cash Flow before refi (6 months) @$770/month = $4,620Cash Flow after refi (6 months) @ $540/month = $3,240TOTAL Cash return 1st year = $7,860 - $5k OOP = $2,860 total GainI would do the above example #2 since I would be $2,860 ahead at the end of the year....as long as the Cash Flow of $540/month would meet my Rule #2 above of minimum cash flow after the refi loan is in place,and......as long as the refi amount of $45k was enough to move forward with the next deal.

I chose not to leave the vehicle:).

This will help vet those contractors looking to take advantage of folks, in particular since you’re investing from afarFocus on punctuality and communication – did they show up on time, did they return your call/email in a timely fashion, do they keep a well maintained vehicle, do they communicate in a professional mannerVerify IDOnline search of their name and companyReferences with phone numbers, and previous work – call the references, find out the type of work done, does the type of work they’ve done match with what you’re looking forGet a detailed, written scope of work (SOW) along with a detailed, itemized contract – define the payment scheduleHow will the payments be structured –are they asking for money upfront (potential red flag)Hire a licensed, insured contractor that is in good standing with the Better Business Bureau, and the local consumer protection agency; check the license number, insurance policy, and bond.

As in what it be better if I go ahead and build on it and have that money coming in from the storage business or just sell it.The problem with this piece of property is part of it is in a floodplain and may need a lot of dirt work....

I went ahead and installed a few battery powered smoke/co detectors inside the apartments as well.  

Hello Tam C. yep buying and holding is a great way to go.Life has it's ups and downs, having your own income stream, in addition to your job, give you a lot of security.Best to you.PS - upload a head shot - come'on