Hello Everyone,My husband and I just closed on our first rental property, and so far have a great prospective tenant. We are looking for a real estate lawyer around the Madison WI area, that will be able to help us cr...

Seller seems 100% legit (I did my own title search, he has title.

Lending the money is an easy way to make a great profit and I do not have to get out and search for deals etc.

Although we don’t anticipate any issues, we had a proper agreement of sale, mortgage and note, and we are closing with a title company (so there was a title search and we have title insurance) and will be using a loan servicing company to avoid any confusion about payments, balances due and taxes.

I search the county records and the owner's address is listed as the properties address.

You can search BP for this topic.

I would like to walk you through my analysis to see if I am doing something wrong with my numbers.Property: Duplex in San Rafael ST, South of Edgecliff Village in Fort WorthAsking Price: $155,000Down Payment (3.5% via FHA): 5,425Loan Amount: 149,575Loan Period: 30 yrInterest Rate: 4.38%Monthly Mortgage Payment (using BP mortgage calculator): 747.24Income:Unit A --> 695Unit B --> 89550% Rule:Cash flow = (Income)*50% - (Monthly Mortgage Payment) Cash flow = (895) *50% - 747.24 = -299.74** This computation was made only leasing unit B and living in unit A (house hack).A few thoughts regarding this analysis:1.The schools surrounding the area are below average schools (according to greatschools.org).2.I am not including the monthly taxes, nor the monthly insurance in my analysis (I have not searched for this information.

Kind of the ideal motivated seller that I've been in search of. 

I search the county records and the owner's address is listed as the properties address.

I would imagine it’s as simple as selecting the right bank account for the portfolio’s respectively properties, right?