Simple calculationRent: $450Expenses: $180 (40% of rent)NOI: $270P&I: $155cash flow: $115Looks OK to me.With a more conservative expense ratio of 50%, it looks like:Expenses $225NOI: $225Cash flow: $70If you're doing the property management and minor maintenance yourself, that's another $45-70 in your pocket each month.Why 20 year amort?

My plan is to take the equity while I can and be prepared to strike when I need to at the same time pocketing more cash with mortgage payment savings.

To update the situation, the rental market in my area has weakened and there is substantial vacancy in my properties, probably 15-20%.The property I am way underwater on is full but I'm nervous about the prospect of making the mortgage payments on the other properties going forward.I am having to pay all the taxes out of pocket this year.

Originally posted by Jordan Sabo:as far as there being no clothing designers, i went to macys earlier and i tried to find a goddamn jacket for under $100. it took me an hr and it was a perry ellis. what amazes me is that retail stores bi*ch about poor consumer spending but they had maybe 2 clearance racks in the entire store which is asinine.

Paul,Welcome to Bigger Pockets and thanks for introducing yourself.

I can no longer continue to pay on the property out of pocket.

I agree with Lee Common & others-Owner finance or other creative financing may take off as good people cannot be approved for a mortgage.I make no predictions regarding banks and politicians fixing anything in a logical or timely manner unless it lines their own pockets.

Current goal is to locate pocket neighborhoods in Ohio.

It's all totally ridiculous because there is no secret to real estate investing.If you really want to be successful in this business, keep your money in your pocket.

You're underestimating expenses (search for "50% rule") but its still good.If you want to do it with minimal out of pocket, use hard money.