Purchase price: $350,000 Cash invested: $250,000 Sale price: $850,000 This rare corner property located in the coveted Havertown neighborhood had my investors running to get a chance to secure this beauty.

Currently I can purchase a 550K condo in Toronto with 10% down payment (I am able to save around 30K in a year).

Did you save up enough to put a down payment ?

The whole situation seems strange since the owner let all three get this delinquent - and managed to place three non-paying tenants.If we're talking about the same one, it's price now is starting to get more attractive for a triplex in that area, even with the need to evict (of course that assumes the condition of the property itself isn't terrible).It will take time and money to get them out or get them to at least start paying again, but usually you get "deals" by agreeing to take on situations like this one.Personally, I'd advise a first time investor client against getting started with one like this and saving that for a few deals down the road.

The REI cost is ONLY the cash they put in, as long as they have positive CF. 

As a result assets will continue to appreciate.Using someone else's money allows you to leverage and buy assets NOW that will continuously go up in value, as well as increase a cash on cash return for yourself over time.

Bump to follow this also.....looking for a Houston area bank or portfolio lender that can help me close a deal and handle some cash out refis.

@Daniel Grimsley sounds like you have a Class C tenant.They are probably planning on saving the rent they owe you to use to move and pay first month's rent + security deposit on a new home.Why didn't you start the eviction process when they didn't pay May rent?

Syndications are different in that they take cash out of the deal before fulfillment.  

Is Capital contributed by just cash contribution or by services (like managing property) contributed?