I would recommend adding a profile picture as it really enhances interactions with other members and helps build the sense of community.

All of the expenses and the miles are added to your cost basis.

You're certainly right that you can get an FHA loan for 3.5% down (the closing costs can be added in to the loan amount).

I have read that single member LLC's can be classified as "disregard entities" and treated as sole proprietorships with no liability protection and adding a spouse does not change this (as opposed to an unrelated party); however, I don't really know what I am talking about and I read this somewhere on the interwebs :)

Use the pictures you have from when it was last vacant and put ads on CL, Rentlinx, etc.

The success or failure of this type of investment is largely determined by WHO you are doing business with.In summary, I like the strategy but you have to do homework on the deal AND the sponsor, talk to references, obtain and verify track record information, and be prepared to NOT invest if things just aren't adding up.Good luck!

Yes John, another good approach, people that couldn't sell and ended up renting to move, estate deals, see who retires at the plant maybe the spouse has been taking care of the properties, tie landlords to those events in life that motivate them to sell, otherwise you're spinning your wheels. :)

If you added a minus sign on the payment computation, you have to put it in the payment here, too, so the payment is negative and reduces the balance.

put the same color siding on it, the same bay window, etc.I see the ad on the MLS that the thing is listed for $25,000 and is listed for owner occupancy only by the city.

It added up to the number I originally told him.