Sorry for the long post..I sent out my first round of yellow letters on Saturday (rather Jerry Puckett sent them out for me...great guy by the way and I recommend him to anyone looking for the YL services) and wanted to give a recap.My listsource parameters gave me 515 properties.

BTW, I make it down from Sugar Land for hunting/get away more than a few times per year.

After looking further into IRS depreciation rules, it would appear that if I can freely trash a 5 year old carpet, then I can completely trash any 27.5 year old rental property and get away scot free, since the property would be worth zero by then.

@Brian Gibbons Brian can chime in re his knowledge of who has to keep maintenance.My learning here in GA says that in sandwitch lease options, who ever is the land owner has to keep ownership of maintenance of big ticket items like HVAC, roof etc.

You could sell tickets before you start the rehab.

I received an email earlier today saying only 30 early bird tickets remained ($49).

Some of these numbers are made up and rounded off just for easier calculation, but I need help understanding the ins and outs of a hard money transactionhome purchase price: $30,000Repairs: $5,000ARV: $52,000 (as verified by comps)Looking to get into the home with hard money and refi out of it as a rental.

The Hvac trade will (and currently are) using the "new law" to set off another round of gouging.

Of course, there are going to be the "chores," such as handling spam and handling the occasional situation where issue arise (hopefully I won't have to ban myself :).Btw, Steven Hamilton is a mod also...his expertise in the tax/accounting area has been amazing, and he definitely rounds out the group.

Estimated Rent/Unit - I've round $650-700 online, but let's say $600/unit, $2.4k allOK...if I utilize the 50% rule & review #s on monthly level, then:Rent = $2.4k50% = $1.2kMortgage = $906Cash Flow = $294*Ideally, I would like $400, so offer price would be more like $200k ($805 with 25% down @ 5%).