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

Google terms that "are in parentheses" if you don't understand them.Today's lesson in Finance 333 covers the concept of "Spread"."

This used to cover the mortgage on the whole complex, but this was paid off last month.

It's (slightly) cheaper, and covers vandalism.

The had wet towels covering the bathroom floors * Mold in the bathroom because of the leak * Sewage water that came up into the house and left behind wet carpet * Many things that were supposively done where not done right.

It's a lot of money, but that will help you cover vacancies when you have them, and you will have them, as well as any other unforseen boogiemen.If you'd like the spreadsheets, just drop me an email at: jeff <dot> takle <at> jtnoel <dot> com

The had put visquane on the floor and covered it with 2-3" of dirt so the chickens could "peck" around in it.

But...I need the seller to cover closing costs, and that would mean I'd be asking for up to 6% from the seller. 3% for closing, and another 3% for FHA...don't really understand it all, but that's how it works.

It would be ok to buy a new property and rent out that property instead of the one you currently live in, but you would need to make sure that the monthly cash flows will at least cover all of your expenses.

The house and lot have been appraised for around 290 so I should be able to get enough from the loan to cover construction expenses.