My father contributed 14k total cash and did most the rehab work, I'm about $35k personally invested, and we have another $16K unrealized losses.The home rents for $900 and has a mortgage payment of $587, insurance $60, taxes of $100, so $747 a month, or $153 cashflow rented.

Thanks to everyone that is contributing and to Chris for starting it.

Also VERY cool that even though you're new, you find a way to contribute by posting your knowledge here.

thanks to everyone who contributed to this thread, helped a ton!

I will be meeting with him tomorrow to find out more information.While I don't feel like I have much to contribute I have been reading all kinds of articles, posts, and podcasts in the last week, and really like the culture that has been created!

The owner will either reject your offer to buy based on preconceived notions regarding their situation or have a bunch of questions you want to be able to answer on the spot.

He cannot contribute if he has no earned income.I have clients who max their 401k and then withdraw the next day in order to avoid state taxes.

And also how happy I am to start contributing to the community here.I'm open to any questions anyone has.Mathew

I can always appreciate altruistic contributions for the new crowd.And although it has given me some good ideas, what seems to be hard about using a forum, is that I keep getting lead down rabbit trails of different advise and strategies.

I have to force myself to get off of here sometimes because I find that my brain is not absorbing anymore information:-) There are so many people on here willing and able to help, and I hope to contribute here once I become a little less green.