I lowballed the offer based on what I learned here about max offer price equal 70% ARV (Thank you BP) and gave them until Friday to respond.

I know along the way I am thankful that I checked my ego at the door and went to my father in law, a very seasoned investor, for advice and wisdom that has proven to be vital in my growth as a a business person and investor in real estate.

you would shoot for $6000 in rent to equal the 2% rule. then go on to figuring 50% rule for the operating expenses (exclude your P&I).Leverage is a beautiful thing; put 20-25% down & get a loan so that way you can buy more properties, have $ for rehab & an emergency fund.evictions - just screen people hard. sometimes bad things happen to good people but you have to be proactive & (again) lucky.

I also don't think I have time to get a HML in place.I had to compete with two other offers one was 5k below mine and one was equal to mine but the executor of the estate went with me b/c I waived my right to a home inspection.thx again for the input!

Say you buy a home for $50k with no rehab costs (if there were rehab costs, you add them to the purchase price. 2% rule says you need to get MARKET rent for $1000 (so double purchase price).50% rule says your operating expenses (property tax, insurance, vacancy costs, legal/eviction costs/management fees, repairs/upgrades - basically, everything but intestest & principal) would equal half of your rent.

This is equally important to the dumpster to prevent mold/mildew, etc.All exit strategies back on the table.

For this reason, with "traditional" companies, like State Farm, it is vital that values of property are accurately reported and updated annually to reflect inflation and other increases in cost.

there are 4 "children" that are equal beneficiaries of the IRA . what are the tax implications upon ultimate distribution to the children.

.- Your gross monthly income must equal approximately three times or more the monthly rent.- Your debt-to-income ratio should be within FMCC/FNMA guidelines.- A favorable credit history.- Be employed and able to furnish adequate proof of the required income.- Good references, housekeeping, and property maintenance from your previous landlords.- No history of evictions or broken leases.- No criminal background.Is there a clause that I can add to indicate that preference will be given to the most favorable applicant as defined by the above criterion?

.), and you have a 1100 sq.ft. house, it might be worth $103-105K, everything else being equal.