Taxes/ year: $3,002,  Insurance: $1,573,  Trash/ year: $654,   Electric/ year (exterior lights): $420,   Water/ year: $1,200 sewer/ year: $1,500,   Spray for bugs/ prevention: $311/ year,    Lawn cutting/ year: $640,   Misc (furnace filters/ 9v batteries): $250I have gotten mixed reviews back from my colleagues when they go over these numbers with me.

I raised the question about pulling title, closing costs, points, etc and he said "The costs would be minimal on a small cash out like this, I'll work both out and show you." 

Here are the numbers:Original Loan Amount: $ 42,700.00Loan Origination Date: 12/09/2013First Payment Due Date: 01/01/2014Last Payment Date: 9/27/2018Current Loan Balance: $ 41,802.77Current Interest Rate: 9.900%Current P&I Payment:$ 371.57Current Escrow Payment:$ 30.43Maturity Date:12/01/2043Term Remaining: 302Loan Type :CFDFMV: $87,500The WorkoutWe picked up this asset for $18,500 ( 44% of UPB)Expense Cost: $2000 (Includes, servicing, initial due diligence, forced place insurance, back taxes and misc)Contingency Fund $2,500All in Cost= $23,0008 Months of Payments = $2968Reinstatemet fee from borrower = $2000Total Income received $4968We sold this property after 1 year as a re-performer for $35,500 (Approximately 85% of UPB)$35,500 + $4968 = $40,468 Total ROI = 76%We're excited with how this one turned out and can't wait to see what we will do with our next one!

I simply wanted to know if that is compliant with CA's RE bureau, for future reference.Last message (txt) was from listing broker/dual agent that that Escrow was opened, and so I dropped off the 10K check to the Escrow company indicated in CAR form's Joint Escrow Instructions, which shares same exact address as Listing Broker, just a different suite letter, ie B in of A, and haven't heard back from dual agent since, but assume once contract is executed, brokers move onto their next deals and become 'scarce'.Anyways I had asked for 4wks close then 3wks close but broker kept 2wks close on the offer as its cash so let's see if we actually do close on their preferred timeframe of 2wks which would be 2nd week of Nov; there are NO contingencies other than Title clearing so I see no reason why the heck not, yet remains to be seen!

If you are paying for private mortgage insurance, the market may have helped you get out of it.I did some digging and the median home price in Salt Lake County has appreciated 31% since the beginning of 2016 (from 275k to 360k). 31%!

It provides an insurance policy of sorts against you dragging this process out by making a mistake.

That brings the NOI down to $21,1605) insurance looks low too.

It has some value, but the prospects of finding a buyer in that market are slim.As the title alludes, would leveraging this land and using the money to purchase local rentals be a profitable venture.

The purpose of screening him is not only to determined if he is a trouble maker but is also to insure that when your present tenant leaves for any reason and you end up with him as  your only tenant he is fully qualified.

Go to title company, add rehab costs to original title/HUD 4.