Of course I understand this all depends on the current market situation, so let's assume the market stays the same.

Median home prices still need to fall at least 35% to bring them into line with median income, assuming income doesn't fall, given the fact that the lending institutions have been forced by reality to return to sane lending practices.

Assuming $66/day interest, that's a $462 difference.

I have a vague goal of financial independence, but no specifics on that.i deal with the day to day decisions to make the short term goals happen, assuming this will make the long term goals occur as a direct result.For the short term goals, I focus on the next property and look no further than that.

You say "some updating" so that sounds like $10K to me assuming no walls, plumbing or electric.

Lets assume that for every house that has started the foreclosure process...whether its preforeclsure notices on down the line....get the benifit of a 1.5% reduction in their rate (fixed) and a 10% reduction on principal.

Land and bldgIts listed at 99,000 I could probably get it for 90,000.The average rent in this area is btween 750 and 1000/moThe taxes are 4500 a year.Insurance around 700 a year.I assuming the loan is 7% at 30 years.

So now the city assumes that the person living in the house is the owner.

I'm trying to refinance a commercial building we own so as to allow the tenant to assume the loan with no cash down.

If you assume that marketing - of which locating motivated sellers is a critical part - takes 20%-25% of your time, you can easily see how little time that leaves for the other activities you need to be doing on an on-going basis to reach your goals.By having a bird dog or bird dogs doing these things for you it allows you to better utilize the time resources you have at your disposal.