I am leaning toward buy and hold.

. , I agree 100% about turning off the main breaker and the main water valve to the house prior to having the utilities turned on at your convenience.

My initial thought was that I would take PITI x 12 as an initial working capital metric, and start to run more lean as I get some more experience.I'd be interested to hear how folks who have done this for a while look at working capital.

Due to credit issues, I'm unable to obtain conventional financing so I'm leaning towards my only apparent options of either hard or private money.I've called a few lenders(hard money) and find anyone that will lend under $50k.

thank you so much. do you know of any good websites for landlords (security check, evictions, leans,loans) ?

I will of course give this the usual hard nosed landlord application review, but given a choice of suing my current tenant in small claims for lost rent due to lease breaking, or going with this prospect I would lean to the prospect if he is serious.

I enjoy reading your posts.Great idea on the recording because I've certainly had those conversations that were conveniently 'forgotten'.On another note.......Today I have received my first approval of lending from a Private Lender for my next project.

I am leaning for garage as there is plenty of bedrooms and baths for the area's demographics.

I would be leaning more towards buying and renting trailers.

The property could rent for $1,350 a month but I'm leaning more towards selling it with owner financing.