Below are some of the numbers that I have:Rent in $2300 (Two units rented out @ 1250 and 1000) -1600 (monthly mortgage payment) -133.34 (insurance) -133.33 (utilities) -166.67 (water bill) - 138 (heat)---------------------- 128.66 monthly cash flow in I realize that this is my first property and things will probably be a bit tight, but I could use a bit of advice here.

My experience with HOA's as a vendor is that the boards are typically very tight with money.

This is a really tight community, so don't be shy!

I've seen quite a few demand letters from several NC trustees... the language is quite strong and sets deadlines (10 days is common) before they motion for resale.

I'm also looking into owner financing/"creative financing" for buying and renting out other properties since money will be kind of tight after the purchase of my house :P I hope to own many income producing rental properties and eventually be able to become financially independent and retire early!

Zach Sikes Thanks for the welcome, I've heard the margins are tight in the metro right now...is that what you are seeing as well?

When we moved to O.C. that's what we were thinking our niche would be, but soon found out how tight it was, so have decided to go with building spec properties.

An approach that is, IMHO, deceptive, but preserves the illusion you're buying:"I need 21 days in order to do my due diligence and get approvals from my partners, the contract is contingent on getting through this work with a 21 day deadline."

It wasn't a big thing, but money was tight and I had to get going somehow.

It'd take three posts to show you all that's possible, but you're not in nearly as tight a spot as you might think.The money can be had, over a short period of time.