My wife is on bed-rest the last several weeks of her pregnancy, so I'm doing double duty taking care of our 1-year old.

I have already picked up three...fourth is in escrow...and i told myself i will be good for 2 months....let the dust settle and honestly...i am already clamoring to make an offer for the 5th fourplex....we have rented 10 of the 12 units....the 4th prop will probably close at the end of the month...and then we need one month to get it rent ready....after which i give it couple of months to find tenants...i promised to be good at least until the close of the 4th one before i start looking for one...but i find myself constantly scouting online for good values...in the last 2 months..i have gone thru the prospect of evicting a tenant...until she paid late....been threatened with lawsuit over bed bugs for a property i acquired the prior week...and of course...things stopped working when u close on the deal....not to mention i am on my 3rd property manager in 4 months.i have never ever enjoyed myself as much as i have in the last few months....am i hooked on for good....is this how u...the veterans feel...as u face a prospect of the next purchase or is this the excitement of a newbie????

Good afternoon,I have a seller who has a situation that I have yet to cross.Seller is going through divorce, 6 payments behind, Home is vacant, typical 3 bed 1 bath home in Urban America.1st is with Wells with approx 55k owed2nd is with GMAC with approx 62k owed.FMV is 115kSeller contacted me to purchase property by Short Sale.

Now that I got mom and baby in bed I thought I would catch up on a little business.

Deal completed on December 1st, 2010:Townhome (REO) - 3 bed, 1.5 bath, 2 Car GaragePurchase Price: 38,800, Repairs = 7,000 (This includes a new roof, siding, and a furnace)Total investment = $45,800Rented at $850 a month on a 2 year lease.We financed this conventionally for 30 years @ 4.875Comparable sales in the area for the same townhome range from 65,000 to 85,000.

A space heater on a bed.

Edit- Heading to bed almost 1am my time but I think people who want to count every single transaction have a need to boast or make themselves appear greater than they really are or more experienced or a host of other things I cannot think of right now.

It's currently 2 bed / 1 bath.The second one is a turn of the century 3 unit residence that's currently fully rented and generating around $1200 / month.

I put all the home information on the voice mail message including the #Beds/Baths, rent, deposit, application fee, pets, and so on.

Also the property is very close to an expensive private college and I think a few large 2 bed 2 bath units (combined 1 bd 1 ba) will make a killing as they would be the only ones of that type in the neighborhood.Also im looking to owner occupy as well so I would like to have access to lower rates available for a 1-4 unit property.As an aside, I know rule #1 is not to get emotionally attached to a deal. this house is perfect though as it has a large parking area and 3 car garage in the heart of a dense turn of the century area, quite hard to find in the city here.