TOTALLY SEPERATE your goals for personal purchase from investment purchase.if you don't, you'll end up "thinking" you're a real estate investor, when really all you're doing is making offers that are at or close to market.and when you say, "it would pay for itself" - be careful how easily you throw that comment around in your head.i don't know your experience in real estate - but if you casually go around making offers on properties that might be a personal home or a rental "that pays for itself" - you're setting yourself up for a big, BIG fall.just trying to help out here.

Check on what the total would be in your area.

r2d246 I totally agree, buying a investment home cash out is just poor use of money.One of the projects I'm working on right now, using 100% financing*, 0 down, closing cost about $1000 (still negotiating with seller) is projected to return $18,000 over three years on a purchase of $216,000.

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Packed with equity and eager homeowners ready to leave their homes in tip-top condition!

Find a hard money lender that will provide a 70-75 ARV loan, and you will be able to roll in the purchase + rehab (plus some closing costs) as long as the sum total doesn't exceed the allowable ARV limit.b.

Not getting or knowing the total payoff is an absolute DEAL KILLER for me.If you encounter this, go to a reputable Title Company and they are usually pretty effective in getting payoff's in these situations.Good luck,Jim Watkinswww.dfwmentor.com

Manhattan Development Site(Tribeca)**Direct To BrokerZoned-C6-2A w/ TMU F.A.R.(6.02)Lot Size-25x176.5Build Size-25x176Floor Area-21,938SqftRight Floor Area-32,189Sqft5 Story Building Delivered VacantApproved Plans to build Total Gross Floor area of 32,189SqftPurchase Price-$18M

Your $150,000 cash down has given you in 30 years –$3,365,000 (4% annual appreciation)$1,500,000 (2.34% annual “appreciation OR principal paid down on loan, however you want to look at it)$508,000 (after-tax cash flow invested annually into 8% annual yield account, whatever that is)$410,000 (increase in rents minus increase in variable operating costs invested annually into 8% annual yield account, whatever that is)Total gain - $5,783,000 or 12.9% compounded annual yield on the $150,000 investment.

Please correct me if this is wrong:From the net operating income I can deduct...annual depreciation (cost of property divided by 27.5 years) +total annual mortgage payment +total annual insurance payment =after tax cash flowDid I miss something that I can deduct... or did I add something that I cannot?