You're underestimating expenses (search for "50% rule") but its still good.If you want to do it with minimal out of pocket, use hard money.

You can also contact the Louisiana Real Estate Commission for information on the official rules, regulations and laws.

Being from Canada, our information is restricted to what we can find on the internet, and who we can network with.

We don't need to give local governments more reason to restrict landlords.As it turns out, in my state CO2 detectors are mandatory in residences.

The rule is, if you accumulate 6 points on your landlord permit in the course of 3 years, you lose your ability to rent your property.

Hello all,I normally do single fam, so I wanted a quick hand with numbers on a deal I'm considering.Location and repairs aside, strictly by numbers, what do you guys make of this deal:Single house, 3 fam:- 2 bed/1 bath- 2 bed/1 bath- 2 bed/1 bath- 2 car garage- separate metersTotal rent is $2,500.Monthly taxes are $320What would be a good estimate for monthly expenses (50% rule??)

State law restricts increases to 2% of the property value per year for "inflation adjustment".

Matthew,Here's an assessment using your most optimistic values, and my optimistic expense=40% rule of thumb.Buy: $92,500Rehab: $7,500Loan: $103,000 (includes orig fee and closing costs)Payment: $685.26 (7%, 30 year)Rent: $1200Expenses: $480NOI: $720Cash flow: $34.74Thats pretty thin, especially in light of all those assumptions.When you say the garage is enclosed, do you mean its been converted to a family room or bedroom?

I think I'd have to go into the economically depressed urban areas around here to find properties like that... which would violate the safe for wife and daughter rule.

What is the general rule for working capital needs and/or maintenance reserve you all use on residential properties?