The general rule is that the loan amount + the cost to bring payment current + any cash to the seller + repairs should be "at minimum" under 85% of current value.

I also know about the recent RPP Ruling with lead based paints with the EPA, and do mold clearance sampling too.

oh your not wrong mate. a few years ago MBNA one of our largest banks and huge source of employment in the area i live was taken over by bank of america. last year one of our biggest lenders in the UK "the abbey" (my mortgage provider) was taken over by santander group, and over the past two months they santander have also taken over 2 more national high street lenders "alliance and leicester" and "bradford and bingley".It's a perfect example of how corporations rule the world and the philosophy of the rich get richer while the poor end up on their arse

Simple stuff like:-must read books/websites-where to research-explanation of the 2% rule and 50% ruleet cetera, et cetera

Here are the ground rules: - You can't be a realtor, attorney, closer, contractor, etc., i.e. someone who makes their money through REI services

Rules of 72 my friend..

Unfortunately, there was a member who misused and mistreated the forum rules in that thread, so it was shut down by the administartor and all the good information and posts by others is now unavailable.

If it is necessary to separate a lease from an option for both liability and foreclosure rules then why not use the following designHome @ $100,000Lease home for $500 per monthSell Option for $5,000 Year one purchase price is 95,000 Year two purchase price is 94,000 Year three purchase price is 93,000 $83.33 credit per month would be built into this scenario, but not stated specifically.

My other rule is that if I were to rent to a pet owner, I know that pets and carpet are not a good mix.

As a rental:$850 rent$425 expenses (50% rule)$425 NOI$100 desired cash flow$325 max payment$48,850 max all in price$10,000 repairs$38,850 max you can pay for itAs a fix and flip$139,900 ARV$97,930 70% of ARV$10000 repairs$87,930 max you can pay for it$20,985 best case profit$13,990 realistic profitProfit based on paying $87,930 and sticking to your $10K budget.