Having said that ,EVERY SINGLE PERSON I HAVE EVER DELT WITH LISTING PROPERTIES ASSUMES THAT NEWSPAPERS SELL HOMES regardless of what information I provide them.I'm telling you, if we could just do away with the majority of print material, the commissions would be a bit less.

What does he do the rest of the year with his land (I'm assuming he also sells the corn).

So, I'm trying to figure out how I can take a self-study crash course on mortgages and finance principles before the instructor assumes everyone in the class already knows the basics :oops: .

With the Roth IRA (assuming you follow the rules) you are putting after-tax money into an investment account.

Reading a book is a good thing.It is safe to assume that anything that can go wrong probably will (at least at first until you've fixed the problems you didn't find before you bought the building).

Assumed a 16,500 mortgage on a single wide, rented it out for 3 years, sold it for $32,000

Assume your property will be leased for a year.Add up all the annual fees that are in the fine print of the management agreement.Add up all the management fees collected for the year.Sum those two numbers, and divide by all the rents collected on your behalf for the year.For example, a company advertises 6%, has a $450 marketing fee, $20 twice a month freshen up fees (when vacant), $150 annual fee and 4% lease up fee.

I guess the tennants assume that their security deposit covers the September rent that they've never paid??

While none of the children were "professionals", I had always assumed they were all similar in financial things.

This ROI should be higher than your WACC (this would just be your cost of borrowing if you own the property by yourself).All of my comments below assume you earn 10% ROI in your area.Option #1 Do nothing and ride out the ARM.