I threw you numbers into my modelling tool with the following changes:I used the ask price: 180Kmaintenance - 10%vacancy allowance - 10%Insurance - 1K/yr {rather be too high than too low}lawncare/snow removal - $75/mth,  $900/yrHydro (House) - $100/mth, $1200/yrWater/sewer - $85/mth, 1020/yrGarbage - $85/mth, 1020/yrMortgage: an LTV of 75 and 6.0% interest rate with a 30yr amortization.an opportunity cost of capital at 8% a 15 year hold period.Did not count laundry revenueThis brings your OE to ~1025/mth,  ~12,300/yr  ... an operating ratio of ~43% ... which strikes me as low, but wonderful if true.Just to be pessimistic, I added in another 2000/year of misc expenses to bring your operating ration to 50%With all of the above in the mix, I get a debt coverage of ~1.4 and a CoC of 10.5%  Which is passible.If you could purchase for 165 to 175K and the real expenses are closer to $12-13K/year, then this is will be a good investment with the following caveats:- I did not budget for upfront capital improvements that you would need to do at purchase;- Since I know neither the market nor the property, I modelled with no property value appreciation and no rent improvement.

This is the main reason S corporations have been, and remain, popular with professionals.Example: Mel forms an LLC to operate his accounting practice and elects to have it taxed as an S Corporation.

I plan on implementing a similar strategy myself in a few years.Glad to hear you're finding success with it, and hopefully BP will be a great tool for you in the future.Cheers!

Next is a good insurance policy, then comes business formations.LLCs are the most popular with investors, but if they are not managed correctly they can be worthless.

I am looking forward to using this site as a valuable tool in my wholesaling business.Barbara

Glad you found your way here.I'm sure you'll be able to use the search tool on the top right hand corner of the screen to research details on the strategy you touched the surface on in your 3 day seminar!

The more tools in the tool belt the more deals you can close.Also check out Bing paid searches.  

I'm still pretty new to the real estate investing scene, so this site has already been a huge learning tool for me.I'm sure I'll be posting some questions over in the land lording forum soon.

Rehabbers contrary to the popular notion they are not real people actually are emotional beings and I will prehab certain houses.

I've a real estate wholesaling business in the Poconos Pennsylvania and I'm just starting to use flyers as a marketing tool.