Here are the numbers: appraised value: 92k 67,500 @ 7% 30yr PITI: 562/mo Currently leased @ 700/mo (will be increasing rent 25 after lease is up for the year) I know using the 50% rule this shows ~100+ loss each month, thus the reason for this post to see what can be done to "fix" my mistake.

You should talk with your account to find out what the exact rules are in your state.

Search for "50% rule" to get an idea of what the other expenses are.

We are a REPRESENTATIVE REPUBLIC based on the rule of law not the rule of man or "fairness" of the outcome, only the opportunity.

I just want to make sure that I'm not violating any rules.

I always hear about the 50% expenses rule here and how that doesn't apply to us profoundly.

I already have an LLC set up and would like to start building credit, so in the future I can avoid rules such as the 4 property rule by Fannie Mae.

Tell the agents your going to do you diligence on your offer up front and you will get your offer submited.ever hear of the 80/20 rule......80% of the people do 20% of the work and 20% do 80% of the work.......lots of people are lazy and we must make them do their jobs by what ever means (legal) we have to.

**************My answer:REI has to do with risk analysis and exit strategy implementation.Rule #1 - Conserve personal cash.If you have to break rule #1, get a partner.To buy in this market, you can sub2, land contract, seller carry - JV, option flip, etc.To sell in this market, you can lease option, land contract, all cash consumer, carry a second and keep or sell in 6 months.To make cash flow, consider being a consultant helping others sell CREATIVELY, and get fees.That said:You bought for $28K, out of pocket is $5600 down, owe bank 32.4KHave you considered your carrying costs?

I currently am looking for that property that can fit the 50% rule that is so loved on this site.