Hello fellow investors. I recently stumbled across this GREAT deal that is owned by Fannie Mae; however they put language in the contract adendum that prohibits me from selling the property for more than $44,400 for ...

If they come to the table with non-FHA financing, the seasoning rule does not apply and we can sell quickly without fear of the FHA rule.

in general is there a rule of thumb when it comes to how much $ to set aside for each rental property

If that's an essential part of your exit strategy, don't for a moment slack off and let them get away with compromising the rules you've set for yourself.

However, by keeping them in mind and using the 80/20 rule, they may help in the decision making process.

(I know you didn't ask but thought it might be helpful anyway.)TTYLJim Watkinswww.dfwmentor.comIs there a general percentage that you use to rule out which properties are keepers/losers?

In addition, check out any restrictions on renting with the home owners association, which, if there is one, can have a say in any rental agreements.Plan on spending time and money advertising for and interviewing potential renters.

In an era where information rules, the small to medium sized real estate investor can NOW be a "Front Runner" AND a major player within the commercial real estate market!

My rule was if the damage could be directly linked to them, they paid.Example, toilet or sink back up, snake it out and no obvious cause, that's on me.

This is why the rules vary by counties within a state.Be very careful with any responses that are not county and State specific as something always seems to be left out, which often costs you more than the deal is worth.