X 3 = 900 a month gross from 10 agents before expenses and also as a broker you have to keep track of student loan delinquency suspensions, license lapses, IRS tax levies on their commission, missing continuing ed requirements, child support licenses suspensions for non payment, rusty agents that hardly even close deals, etc.

First of all the HOA fees eat up a lot of the cash flow, oftentimes down to a non-acceptable cash-on-cash return, making finding condos that do cash flow appropriately more difficult to find...and that's until the HOA doesn't up the fees.Second of all, so many of the condo associations here have "no renting the first year" or "no renting for the first two years" as restrictions that are not always disclosed in the MLS.

I am going to invoice him for the cost of the advertising and I am sure he's not going to pay it.Is it better to sue him for non-payment or just send it to a collection agency and have them do all the work?

Hi Jack, No, unfortunately what you describe will not qualify for 1031 Exchange treatment.

Any notable obstacles for a non-resident?

It's called breach of contract, and non performance.

Do you take the property back or sell the non-performing lein to a 3rd party?

But I know he didn't pay December's rent to the old owner until the 23rd, and I know from the power company that as of the 15th of this month he was about to get his power shut off for non-payment (not sure if it did or not).He has yet to pay me for January ($630 + $100 late fee) and it's fast approaching the end of the month.

Finding some small notes (either performing or non performing), get them at a great discount and flip the paper.

@Joelowens I am medically retired from the navy and my wife had a good job.