Very True Dan, so many people including myself figured that an abandoned house would be an easy catch.

Can you give me a ball park figure."

The end buyer's money is used to fund both transactions.Another approach is to create a company, have the company buy the property, then have the end buyer buy the company.There are also some lenders around who'll do a loan for a day or two to let you buy it then resell it.Have to have a cash or hard money buyer because a conventional lender won't fund a deal like this.Need to figure out what its really worth.

Then, you'll need to figure out the "present value" function.

Consevatively we figured 50% for expenses which we know will most likely be much less so we should average 180-300 positive cash flow.

I wouldn't mind flipping a couple houses along the way....After I figure out what I'm doing that is.

There are several good HML for CT.Will send you an email with questions so we can figure out which one may work for you.By the way, make sure you have a solid exit strategy as these loans are short term.

I will have to get a loan for the house, I won't have cash, well unless I get it for dirt cheap.I'm torn between the two plans, but I have time to figure it out while I learn as much as possible.I have gotten a lot of optimism in this forum, which will keep my fire burning.I would like to do some mock deals, practice if you will, and I'm not sure if I'm going about that the right way.I have a record of a bunch of homes under 100k, all foreclosures, and I'm scouting them and hoping to follow them through the sale and see if I was close to the sale price in my assessment.

Im unsure if he put any down.Its listed for 279,000. bt he has a realtorso I figure he was just trying to get his realtor fees & just wants to break even at this point.He showed the house to me , so no realtor involvement.He said his payment was almost 2500.

By these figures, the is NOI = 87,978, giving a cap rate of 11.5% buying at the listed price of $760,000.Now, I'm thinking these expenses are way too low, so now I'll plug in the 50% rule.Annual Rent Income = $141,720 Annual Expenses = $70,860NOI = $70,860At the listed purchase price of $760,000, this would be a cap rate of 9.3%.$70,860/12 months = $5905.00 NOI per month$760,000 @ 9% for 30 yrs = $6,115.13 monthly mortage paymentFor a NEGATIVE cash flow of $210.13 per month.So, shooting for $100 cashflow per unit, I would need to purchase at around $435,000.I pulled the 9% interest rate + 30 year term out of the air, so any corrections on the reality of such a mortgage are appreciated.Do my calculations look right?