All I know is Rich is correct, there are a ton of foreclosures in this area - way more than I could ever look at.I am doing comps for the properties and if I need to be able to offer more than the list price that's fine - if it meets my 65% of APR price.I am still in the research phase, but will be flying down to Fort Myers next week to look at some properties and meet with a buyers agent.

As far as how to do it, you can simply compute an "after tax return" on your investment, and if you like you can compute a "pre-tax equivalent return", where you divide the A/T return by (1 minus your marginal tax rate).

@George P.I say that its a bad time to rent, particularly in cold snow areas (except at ski areas) from Thanksgiving to Super Bowl.I also say that you should avoid streets with yellow/white lines down the center of the road.

It's a bit complicated, would involve renting the property until an event occurs at which time I would purchase at a pre-determined price.If we come to agreement, it will take some time to get everything drawn up properly to protect all parties.This may just be the one I've been waiting for!

You have to have a pre existing relationship with someone before you can ask them to invest.

I suggest the HP 12 C or the TI, BA II, both are accurate within one tenth of one percent, the accuracy required by federal law in disclosing an APR to a borrower.As pointed out in the link that Bryan so kindly provided, the CAP Rate, as stated is not a correect calculation as explained, however it went a little limp when speaking of appraisal methods and weighted significance, not wrong but not correct either, it would be better for any student to become familiar with other financial and economic considerations; Look to a Manger's Internal Rate of Return and Opportunity Costs of investment choices or alternative investments, this is where an appraiser will be seeking the cap rate for a subject property, with other investments (not necessairly real estate) can provide a return to an investor considering risk, knowledge required to manage the investment, costs to enter that investment market and managerial costs that will provide a similar yield on the net amounts invested.How did we get so far afield from amortization?

Rate quoted was 4.00 APR 4.105

What is a Pre-Foreclosure?

A ready buyer to me is someone that tells me they are interested, that has a pre-qual/approval in-hand, and they are willing to go look at homes tonight.

The Primary Mortgage is 92,523.85 @ 3.5% APR (Based off early November's rates, add .5% for today's rate) for 30 years amortized ($415 P&I monthly).