One four-plex owner I talked to told me he bought the property based on an estimated return of ~14% but in reality was netting less than 2% once skips, evictions, damage and vacancy costs were included.Another problem I have with all the four-plexes I have seen in Las Vegas is the location and condition of the properties.All the properties I have seen in Las Vegas are located in high crime areas.

No income for the year would be brutal to the bottom-line so it may make sense to drop your rates in order to secure cash flow.As far as summer rental period - use it to your advantage.. offer 9-month leases to students as a slightly higher cost/month than 12-month (where 9 month total costs < 12 month total costs) but also grab that summer rental income.

Be well my friend and grow your dreams into a reality.

In reality, that sells books, sure!

Pray to whomever they want that they don't have to come to the closing with a check.Good luck In theory if those numbers are anywhere close to reality he might despite himself make a buck.

Other than that, if you are saying that you thought you were buying a 5 bedroom, 2 bath house, but in reality you ended up with a 3 bedroom, 1 bath house, my advice would be to pick a different investment vehicle. 

The reality is, within a couple of years, after multiple evictions, vandalism, vacancy, etc. they are beat up and sell at a massive loss.  

It will be nearly impossible for a bank to give you a loan to flip a property, I wouldn't waste my time waiting for that to come to reality.

Talking to real people with real numbers and properties in your area really turn this "idea" into reality. 

The reality is there are only a hand full of basic issues that can arise.