However, you may have a large amount of personal assets and to add a layer of protection, your attorney may or may not reccommend an entity for liability purposes.If you are doing a lot of them, it certainly can not hurt, and the $ you would be making would more than cover the annual expenses of the entity.

I have been fortunate in that I have never been in any confrontation with squatters, drug-users or the like, but if I ever have to be, I want my faithful companion by my side.Remember - If you have a good shooting stance, you are neither running fast enough nor using cover effectively.

So, if you can get enough rent that after paying out the 40-50% for expenses there's enough left to cover the P&I payment, then you're at least break even.

Houston may require a permit for this, but AFAIK all repair guys are licensed by the state and have to pay into a "risk" pool to cover boo-boos if they go out of business.

Obviuosly the higher the better but I didn't know if a certain amount of positive cash flow should be met to cover repairs, etc.

I wish I had a cape covered goverment official [paste picture here] wearing their underwear on the outside of their pants (not too different from many in the house of representatives) coming out to announce the 300b dollar bailOUT.

That assumes that $48 will cover the utilities, which unless that's just water, I seriously doubt.

In this case, you will need to CAREFULLY structure the lease-option contract and be sure that you cover yourself.Good Luck,Mike

We cover the entire gambit of programs including short sale and filing BK's.

I was just looking at a property for 36k and was approved and had an approval letter in 2 hours.Many small local banks will give you loans on lower value properties if you can show that you personally can cover the mortgage and if the property cash flows that makes it a lot easier as well.Just try a small local bank...