They are in TOTAL CONTROL.

Price/ Unit $ 52,500 Price/ Sq. ft $ 74.46 Rental Income Scheduled Rental Income 48,000.00 ( per year) Vacancy (0%) 0 Effective Rental Income 48,000.00 Service and Other Income 1,615 Effective Gross Income 49,615.00 Operating Expenses Utilities: 4,320.00 Repair & Maintenance 1,300.00 Turnover Costs/ Cleaning 3,000.00 Taxes 2,568.00 Insurance 1,750.00 Total Operating Expenses 12,938.00 Net Operating Income 36,677.00 Debt Service 22,884.00 Cash Flow 13,793.00 Cash Flow/ Month 1,149.42/mo Cap Rate 9.178% 4 2-bedroom units rent for $550 4 1-bedroom units rent for $450 Can anyone help me figure out if this is a worthwhile deal?

I'm an electrician and see different houses every day just about so I'm used to seeing a variety of different things.I guess the total finished square footage of the home is close to 1400.It has a main level and then a finished basement.The main level has: Wide living room, 2 bedrooms, and a half bath.The basement has: Full bath, bed room, kitchen, and then a room that could be a dining room.

Is it totally nuts, having to borrow from a credit card in order to "start out?"

You will need to get with someone specializing in short sales to overview it for you.Oh yea....almost forgot!

If you can make enough then use your total amount as a down payment on an apartment building.

., established a bank account in the business name, ordered some small advertising products, published a website and basically gone from a total newbie to someone who has the ability to hold a conversation on REI and actually sound like I know what I am talking about!

but i see the world in a totally different way.

...Believe in myself enough to do this so I feel like I'm not totally dependent on a business that I don't own...even though I have a great job.

Even if you converted it into two units your rent in total for the area might be $1250 per month.