This property would net me $500/mo cashflow after debt service with the 4.75% 30 year rate ($558/mo cashflow with balloon).

Lets say theres a rental house I have, its paid off (no debt on it) and has appreciated nicely.

Hey guys, Ive been loooing through the forums trying to find a discussion on this but I can't seem to find exactly what I'm looking for. Most of the examples and treads are to do more with duplexes and fourplexes. Bas...

I am about to receive my undergrad here in Texas and will have about 30K in student loan debt.

There are programs that look only at the cash flow on the property itself and ignore any other income/debts.

The type of investor you are will dictate the most important provisions to include (or eliminate).

I thought about eliminating and focusing on distressed property owners.

Purchase Price: $425,000Down payment: $100,000Financing: Seller financed, 5% interest, 30-year amortization, 10-year balloonAnnual rental income: $64,620; increases to $68,220 after the $20/mo. increaseTotal Annual Expenses: $48,200 Electric: $600 Maintenance $1,200Sewage: $2,000Insurance: $3,500Capex Reserves: $2,100Vacancy: $2,100Mandorty debt payments: $20,940Taxes: $15,760Net income: $16,420; increases to $20,020 after lot rent increaseThank you! 

I ended up going out of state to Nevada since my strategy is buy and hold rentals with a good combination of cash flow and appreciation potential, and I thought California was too high priced vs the amount of debt I was willing to take on. 

Assuming the borrower actually completes the BK, the result is that the borrower no longer has a Personal obligation for the actual debt....the mortgage against the property is not affected in any way.