Do at least 10 total calls on potential dealsa.

Meaning rents can be trashed and still be totally fine to buy simply because you could spend a few grand on cosmetics and have a new suite.

Of course you also had to be able to perform whatever it was you advertised you could do, but the first challenge was to ge people to believe in you.Never forgot that lesson, it is true to this day.

The basic numbers I see are usually:Purchase Price- price you pay for the propertySelling Price - amount you will sell the property for (not necessarily what you will list it for)Holding Costs- monthly payments, insurance, utilities, points paid upfrontRE Agent Commission - agent's commission on the sale of the property (commission on the purchase of the property is considered paid by the seller)Rehab costs - total expenses used in rehabbing the property from lawn, paint, permits, property inspection, contractors, supplies, etc.Profit - the amount you must make to take the dealIf you take the selling price and first subtract the purchase price, then subtract the expenses (holding costs, agent commission, rehab) you should have your Profit amount.

I would want to know what the rent will look like compared with the total debt you'll have on the property.

I totally glossed over the fact you're paying retail.

The total loan needed would be about $190,000.Can anyone suggest a good broker in this area?

. $212,000 loan @80%30 year fixed, fully amortizing using our Paper Saver process - like stated income but no charge for it6.375% would cost you 1.00% discount point - 6.532% APR$819.80 total lender feesIf you consider an 80/5/15 - where you put 15% down instead of 20%$212,000 loan @80%30 year fixed, fully amortizing6.375% would cost you 1.00% discount point - 6.532%APR$819.80 total lender fees2nd lien of $13,2508.375% would cost you 1.00% discount point ($132.50) 8.513%APRno extra lender fees on the second.So you save $13,250 and have an additional monthly payment on that second of $100.71 per month which means you break even in almost 11 years.

Im guessing totally seperate from the actual purchase contract.

In so doing, they can cover 100% of the total project costs including, in most cases, monies the developer has already expensed for soft costs, pre-development, etc.