On the lower end of the rent range you'd be negative.Now I assume that he would have the taxes and insurance escrowed in the payment so the numbers will be better than that.But I just waned to illustrate that you want to run the full battery of expenses to make sure the place will in fact cashflow at an acceptable level for the risk and hassle.Not trying to discorage you at all since it very well could be a very good deal, you just need to verify that it is.

Thanks for everyone's input.I have been able to find a lender here locally that I verified with today there is no seasoning period.

When people say turn key, I always verify if this is truly the case.

Hi Ken, I'd do some verifying of your own on what it will rent for.

Try asking around and see how many of these professionals are prepared to verify that their clients are accredited.

I recently started the mobile detail so funds are also hard to verify for me. as you can see this is my biggest hurdle.

Talk to city hall about the taxes & assesments - check for permits and you can probably find out who replaced that AC unit and when they did it as well as how much they got called back for other repairs, talk to your insurance agent about rates.Basically, getting the numbers from the owner is a great start - but you have to be able to verify them against the market to know what's reality and what's fluff - always.

Is the insurance based on what the current owner is paying, and have you verified it would be the same?

And I typically do my own inspection upfront to verify that there is nothing overly concerning that could be a costly surprise.2.

Have you verified the leases?