I currently have about $6,000 in my savings account and I plan on using these funds to buy my first property.I've been reading alot of real estate books and although I'm taking in so much info, I still feel a little confused about analyzing profitable deals.

I have depreciated all that I can & because of my current situation tax on them profits will be stinging.Obviously I could do a crap load of upgrades or even expansion, but park is located over 700 miles away in the heart of the Smoky Mountains.Never a vacancy & a waiting list if ever 1 old tenant should pass - Senior all Adult Park - The Real Estate Broker - said SELL SELL - but her formula was 100 - 120 x's the monthly gross rent receipts.

I currently work as a registered guardian for a non profit organization called Guardianship Services.

$400 profit.

Find out the market rent (you have no control over this), subtract the expense, subtract your desired profit and then you have the max payment.

You got the house back (or in this case, the bank got their money back) but you lost profit and now have to go find someone else to do a deal with that may or may not pay on time.

Until you get more of a handle on your unit pricing, you could just establish an hourly wage that covers your time, profit and overhead.

Could you guys recommend some free software that determines the commercial property MAO based on the rents, expences and minimum profit?

(the house next to me sold for 275, even thow it is much larger and newer) but i am about half done renovating it and am looking to buy another when i sell this one, my question is i currently have 40k cash, should i save more maybe 60-90k before trying to tackle another, im looking to really get into this, and am hoping to find a higher end forclosure witch could yield more profit.

It really is a breath of fresh air to see someone willing to invest adequate time in real estate learning to determine what areas in which you're most interested.Since your local market isn't as friendly as you might like, you're learning what you can about areas that make sense from a profitability standpoint.An idea you touched on briefly is a sensible one -- areas near college campuses.