This is because the hotel management will pool together the total income of the entire hotel and distribute this to unit owners net of any expense.

An apartment complex would be a totally different situation for you.

:help: I am filling out a contract...and assignment contract, for a property, I'm down to the part where it says
hereby assigns all rights to said contract to:
person's name
("Assignee")
in exchange for compensatio...

I dont know the balance on the note or the monthly payments but it was rented for 1500. so I am assuming he isnt a total bone head and made some $$ on the rent so it has to be lower than 1500.00.

.- (If possible in your market) Try to buy a building where your total rents will be more than 133% of the PITI payments for the mortgage.

I also plan to spend approximately 5k in repairs so I guess the total cost to me is 162k.I didn't get into the specifics of the property detail because I'm not sure if it matters what type of property it is.

I have 2 rental properties so investing isn't totally foreign to me but I still consider myself quite new.

Also, they have over charged on legal fees to do evictions, they have "forgot" to collect the additional rent when it increased, supposedly for 3-4 months, then suddenly found the additional rent they had collected when I was ready to file a complaint.

After we sell our condo, we will move to Florida and buy that house and then sell and buy another once we have moved.

Forgot about your Trailer ???