I have already posted in REO, but have not received any responses lately.

I assume rate is annual, e.g., 7%.

Correction: FDIChttp://www.fdic.gov/bank/individual/failed/silverstate.html On September 5, 2008, Silver State Bank, Henderson, NV was closed by the Nevada Financial Institutions Division and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.

Any help I receive will be greatly appreciated.I am focusing on cash flowing condos with little or no rehab in the Las Vegas market for now.

By these figures, the is NOI = 87,978, giving a cap rate of 11.5% buying at the listed price of $760,000.Now, I'm thinking these expenses are way too low, so now I'll plug in the 50% rule.Annual Rent Income = $141,720 Annual Expenses = $70,860NOI = $70,860At the listed purchase price of $760,000, this would be a cap rate of 9.3%.$70,860/12 months = $5905.00 NOI per month$760,000 @ 9% for 30 yrs = $6,115.13 monthly mortage paymentFor a NEGATIVE cash flow of $210.13 per month.So, shooting for $100 cashflow per unit, I would need to purchase at around $435,000.I pulled the 9% interest rate + 30 year term out of the air, so any corrections on the reality of such a mortgage are appreciated.Do my calculations look right?

lolI also want to remind all the members about the increased exposure you receive in your other internet endeavors by posting and taking part in the discussions on BiggerPockets.

Also, if you're interested in NJ, we have just received sales updates for most of NJ counties.

Most, if not all, states require a registered agent in case they are needed to received any important documents, process servers, etc.

You would have to front some costs to perform all the DD, but the receive it back.I know a few posters on here mention that lenders wont lend if you dont have skin in the game.

Of course cash flow is always the first metric I look at, but what about GRM (gross rent multiplier = purchase price/ annual rents)?