Well the pipes became blocked.It appears she was using the sinkerator as a document shredder & decided to shred a century of papers & old cardboard she had stored in the basement over the years.

You could get involved with other forms of paper such as seconds, non-performing notes, and tax liens.

Scott who's analysis spreadsheet mine is based off of.The numbers used are entirely based off the pro forma:Asking Price (not offer price): $233,000Down Payment: $58,250 (25%)Improvments: $6,000Closing Costs: $4,500Total Cash Invested: $68,750Total Rent: $3,525Gross Income (less vacancies): $3,232Expenses: $17,804 (50.39%)(includes 11% PM, maintenance at 10% of gross income)NOI $20,985Debt Service: $10,625 ($175,750 mortgage at 4.5% for 30 years)Cash Flow (with PM): $10,360Cash Flow (without PM): $14,627Cash on Cash (with PM): 15.07%.Cash on Cash (without PM): 25.59%Cap Rate (with PM): 9.01%Cap Rate (without PM): 10.84%I'd like to do the management on my first few properties to learn, however my minimum criteria has to work with a PM as I will eventually get one.My conclusion is that on paper this property is quite a good one considering its cash flow, cash on cash, and cap rate - especially when considering this is based off the asking price.I'd love to hear your thoughts.Thank you.Will

I put a sign infront of it and got some free traffic from the neighbor's ad in the paper.

Of course that goes in any market but reinforces the need to buy right.I get a paper called the Landlord Times that publishes stats on major cities.

I think Bigger Pockets is the best to lay out one's marketing strategy since it's about real estate.

You would then manage the day to day operations of the property an the partnership agreement will lay out how profits and expenses are split.

The further in you get the more you're at risk of inflation and all you really have is paper.

I do not ask anyone to commit to me, I just do what I can and they will either join me or not, then at that point I lay out some expectations for the relationship.3.

Would you believe that on the day the closing papers were being sent to me, I received an offer.