Additional info to my above post that I forgot to add.I'm planning to allow the buyers to claim the tax deductions for the payments they make, taxes, insurance--this will be written up by the attorney....my understanding from title co we present them with our purchase agreement and they send to the atty for the prep of the REC then the final pkg is held by an escrow that collects the payments until the "buy out" of the contract occurs in 2.5 years.Is there a better way to structure this and or what should I be aware of tax wise on this?

I confess I don't know if the problem is with the insurance companies, legislators, or a broken medical system.

According to Reuters:Washington Mutual, the largest U.S. savings and loan, was closed by the federal Office of Thrift Supervision, and the Federal Deposit Insurance Corp was named receiver.

The taxes, insurance and utilities will be roughly $360/month.The comparables are good: we can raise the rents about $200/unit/month or $800/month, maybe more.

Purchase price: $20,000 / Market Value $25,000 Yearly Taxes: $34.00 MonthlyP/I: $155.00 (7% at 20yr amortization)Insurance: $20.00 Monthly???????

I have heard in some markets like Florida and the gulf coast, insurance makes it almost impossible to buy in huricane areas, however, in normal areas without conditions like that, market rents will limit price drops.

Then'd I'd contact the PM to review the legal notice given by the tenant and when to insure that they did give proper notice.

The FDIC insures up to $100k for normal bank accounts.

There are 2 properties each pricedat $45K, there is a 2fam and a 3famLet me know what you think:[/u]Purchase Price: 45,000Appraised value - $80KLot Size:3,630Living Area: 2,160Taxes 899/yrInsurance 700/yrTotal 1,599/yrIncome: $1,100 x 12mos = $13,200/yrNet Income = $13,200 - $1,599 = $11,601 Annual return: $11,601/45,000 = 25% return[b]·Purchase Price: 45,000·Appraised value - $80K·Lot Size: 4,160 sq. feet·Living area 2,654 sq. feet·Taxes 1,594/yr Insurance 700/yr Total 2,294/yr Income: $1,367 x 12mos = $16,404/yr·Net Income = $16,404 - $2,294 = $14,110·Annual return: $14,110/45,000 = 30% return

The only thing that I would do is to insure that the tenant still has heat on for the winter, so that the pipes don't freeze.