You just need to know you might be dipping into the reserves at some point when the big ticket item hits.But at 7k in gross profit per month, I figure that if I get a big ticket item, I just have to be accepting of the fact that after vacancies and repairs, I'm not going to have a profit that month.

If they are interested, then tell them that you would require a small down payment( oh let's say...the amount that the roof repair cost, rounded to the nearest round figure) and that you would have to raise the rent by $200/mo.

Create a well-rounded marketing mix.

When i hear that statement, I quickly try to get away from that person and will usually think to myself, "I will burn this thing to the ground before I sell it to you at any price. :) It takes time to negotiate right, in my opinion, getting to the bottom dollar could take weeks if time permits it, otherwise you seem like a vulture and may leave the other side hating you for seemingly taking advantage of them.Sean K

Has no damage from Sandy or Irene, but has lots of neglect from past owners from 2001 to today.It's a 3 season only, though they did winterize it many years ago with insulation, forced air heat and A/C, but the septic is not adequate for winter use.I went to the town hall to ask about that, (and this is were I'm not sure what I'm asking or what they're talking about) the last "Perk Test" was in 2000 and measured 16.75", the town won't allow the septic for all year use unless the Perk masseurs at a minimum of 18".I asked about adding a little dirt to the property and there telling me it won't make a difference for the 18" high water line has to be with the original natural dirt so adding won't make a difference.It's a short sale and the banks looking for 550K, the comps for this as a 3 season is about 750K but as a year round residence it would be more like 950K.Any ideas around this 18"?

The property has a mix of seasonal residential, year round residential, and a commercial space.

I found a single family home for $87k the Arv is at 142k. ( I am rounding off the numbers) My question is how long would i have to wait before i can refinance?

Check it : http://www.biggerpockets.com/forums/311/topics/101515-did-i-just-discover-i-have-a-winning-jackpot-ticket--thoughts I like what @Michaela Graham said - the scarcity is what makes it cooler.

Investors want an annuity with a lottery ticket attached to it.

I also tell the renters to write their address on the deposit ticket, and I can see that deposit ticket online to know who made the deposit.