I have spoken to 2 other landlords; they both told me that when they started they had negative cash flow and raised the rents over time until they flowed.

And I'll raise a stiff cold drink to you and your 84K payday.

I'm just waiting a little longer for Bernake to raise interest rates and really slam the RE market before I buy.

You are not immune to the math no matter where you live.There are some highly experienced people on this forum trying to keep you from making the typical newbie mistake of greatly underestimating expenses--for one, but you don't seem to be listening.

:wink: Before that, I worked as a nurse, then stayed home to raise the kids.

It also WILL exaggerate any raised defects in the substrate.

I'm glad this was brought up because it raises a topic that's near and dear to my heart.

I tend to do my own work (although jacking up and putting a foundation under, in order to raise the ceiling is beyond me) and I'm not sure I could bring this in for $50KI'm guessing you have building codes so plan on re-wiring the whole house to bring to code.Floor uneven and warped is MOISTURE, have to find it and stop it.Don't know the size of the windows but a few hundred per is about right.Carpet a few thousand.Sheetrock repair a few hundredKitchen cabinets and appliances, minimum of about $5K for CUT RATE stuff.Counter tops, $300-$3KInsulate and sheetrock basement, a few thousand.Knock out a few walls etc in the upstairs, about $5K+, moving walls is not as simple as "moving walls".Bedroom doors, $100/each, minimumLandscape and exterior paint, a few thousand."

We're also kicking around the idea of raising a small equity fund based on the low vacancy rates and high subprime default rates.

I decided to post more and ask more questions as time goes on.A little about myself: I'm from the Houston, Texas area, born and raised.