I've spoken with full service PM companies but have not hired one because I don't feel that our goals are aligned...they make their money when they turnover tenants and by marking up service calls, while I want tenants to stay for multiple years with no service calls.  

Hi Mark,The business is going good, starting putting offers out a few weeks ago, none have been accepted but just gotta keep putting them out there!!

Hello Everyone,I'm  In Texas, I happened upon BP looking for info on Mark R.

Right on the mark as always Rick!

@Mark Mosch should cap ex be deducted from the no I to calculate cap rate?

@Dan SimpsonMaking sure that the tenant buyer gets the mortgage within three years is not an easy featThese are my steps that are used to be able to get the tenant buyer properly funded with a  mortgageNumber one I prequalify the tenant buyer on a 1003 universal mortgage applicationI'm looking for 43% of debt to earnings ratioThen when I do is I have but tenant buyer prospect  go to FTC.gov and type in free credit reportI have them hand me the report to look at and then I have them email that report to my credit improvement company in TexasThis is not a credit repair company that just contests negative marks like Lexington LawThe person that runs the company has a huge amount of underwriting experience with FHA and conventional mortgagesThey will charge $50 to look over the report and spent 30 minutes with them on a plan to improve their situation and get financedIf they want to hire that company, it will cost $200 to set up and $100 a month over 4 to 6 monthsNow in cheap markets for the houses are 50,000 to $100,000 in ARV, that might sound like a lot of moneyIn markets 200,000 to 1,000,000 that's a cheap cost to get qualified help in mortgage approvalI think most mortgage brokers will not spend a lot of time with people who need rehabilitation in their credit reportsHaving a credit improvement specialist give an honest opinion upfront that is not doing the mortgage origination but has eight or nine years experience in mortgage origination I think is a valuable first step for the tenant buyer prospect

@Mark NolanI have a self-directed 401k and that is an option I would consider for the right opportunity.

 Thank you @Mark Nolan and @John Huber yes I love BP, I've been checking the podcasts, set up alerts, and signed up for the next webinar.

Once these 2 remodeld homes are rented, and equilibrium , established, I would either rent the remaining spaces to other home owners or buy and rent more homes to fill these spaces as the marked demands.  

Khila,I agree with you, John and Mark...A duplex is a great way to get started, that's what my kids will be doing!