I just list that we will income verify and do screening to weed out people who think you won't check.(4) Wording your ads on Craigslist.

Verify they're legal in your area.

Don't assume a penny less unless you have the prior owners tax returns and do full due diligence to verify income and expenses.$4400 X50% =2200Mo - $2748 financing cost = $548 negative cash flow a month.Your vacancy rate is low, you haven't included management, tenant placement costs, turnover costs, Accounting, licenses, common utilities.

Research for yourself, get information direct from the source, and then verify what you have heard by consulting with licensed professionals independent of a plan provider.

Value is based on tax assessed value and verified by independently certified valuation; or full appraisal; member pays cost for appraisal.

Don't trust their numbers, verify everything.

. ---------- We look at verifiable income (gross) and income equivalents (such as housing subsidies, utility subsidies, food stamps, etc.) for meeting our 3x rent requirement.

Get an inspection, get title insurance, verify the tenant's presence, verify what the actual rent will be should that tenant move out, find out the market value of that house ($12.5k sounds great unless it's only worth $4k) and find out what area you are buying in.

Plan for 25% down (after repair value) plus reserves.Either way I first spend my time figuring out the true condition of the building and verifying the location quality.

The purchase price with repairs is 110k (verified with estimate) and ARV will be approx 275k.