My other question is about utilities.

Thanks.5 Unit aparment house in Rhode Island7 Parking spaces for add. incomeAking 299,000Purcahsed for 250,000 ( 16% less than asking price ) 299,000 - 250,000 = 49,000 / 299,000 = 16( 25% Down{50,000.00})200,000 mort.30 Years7.8% fixed1439.74 monthRental Income525.00 for average unit ( This may be off for this area or not )Gross Monthly2625.00Yearly Gross31,500.00Parking Space Income175.00 month ( 7 x 25.00 = 175.00 )175.00 x 5% vacancy = 105.00Parking Space NOI 1995.00 yearlyExpensesGas ( 50.00 month, 600.00 yearly )Electric ( 100.00 month, 1200.00 yearly )Water ( 70.00 month, 900.00 yearly )Total Utilities ( 220,00 month, 2640.00 yerly ) Vacancy ( 131.00 month, 1575.00 yearly) (31,500 x 5% = 1575.00) Taxes ( 275 month, 3300.00 yearly )Insurance ( 100 month, 1200.00 yearly)Yearly Rehab ( 75 month, 900.00 yearly )Yearly Maint

., take the pick of the litter before it hits the mls and pass the rest on to the "non-licensed" investors]?

This is definitely the place to pick up a great deal of REI knowledge.Good Luck,NavyDoc

Thank you for taking the time to come and utilize the site.

Utilizing this strategy together with a huge network of bird-dogs, they are able to put together a large amount of deals in a short period of time.

I wonder how long it'll take for me to get bashed on...I'm here to pick at "your" knowledge and vise versa.

Here's my take: pick one of your ideas and run with it.If you can sell your property without a broker...great.Period.

Thank you for your feedback,Rye-----Gross Rent Income = 100%Vacanciesvacancies aptsmove in concessionsskips and bad debtsTotal Vacancies = -10%LaundromatTenant ChargesApplication FeesCleaning/Damage/PaintLate/NSF/Legal FeesForfeits/Lease breaksPet/Key/ID feesTotal Other Revenue = + 0.8%Management FeesManager SalaryManager Rent Free UnitLegal FeesAuditing FeesBookkeeping and AccountingManagement Total = 8.2%(All utilities are paid by tenant.

Even if you decide to manage it yourself and the property is within thirty miles of your home, if you travel there 3x a month to pick up rents and fix problems, with todays gas prices you'll lose $30-$40 just on gas.