What mike said.....You may not have any MONTHLY expenses, but surely you have Insurance & taxes you pay, those are expenses.In addition, you will also have exterior/interior repairs that are associated with property ownership.

A hard money lender will lend based on the repaired value rather than he purchase prices.

If I understand it right, the 203k would allow for him to finance the repairs and the mortgage payments during the repairs.

I just keep the money in a money market account at 2% interest then when my funds get to a certain amount I call my PM to see about repairs or if she knows of anyone selling a property, I then I take the rest of the funds to pay down the principle.

We NEED a President that will attempt to repair our international relations, NOT one that will be an iron fisted tyrant like BUSH!

Their philosophy for renting to college students was as follows:Sign a lease with a depositInspect every monthAll repairs (no matter what the reason) were the students/tenants fault/obligation (written in lease).

I will front the cash, and he will do the repairs, and then rent or sell the property.

With that said I have adjusted my purchasing requirement to 40% LTV (after repairs) and 2.25% rents.

I asked If he would take 85K in 1 year. within the next year I would pay him $100 a month to take care of property taxes, I would install new floors, repair drywall, paint in and out, new appliances and light fixtures throughout, new windows and build a custom deck, all at my expense.

We're putting in anywhere from 25k-50k in repairs for most of the houses we buy and sell.