This allows me to make a huge dent in the principle of the loan over that first 3 years (about 25K if I maintain my current payment). looking at the worst case scenario if over 8 years it grew 1 percent every year to 6.75% my payment would be about 50 bucks more than my current payment since it has a new amortization every year and the principle is lower.

Overall this made a great place to live and I made a few tax free bucks for my effort.Thanks for reading!

We are probably the nicest home on the street, now that it has been all remodeled ... but still isn't going to fetch the big bucks the the million dollar properties will. 

Scratch and dent appliance stores can save you big bucks!

I get paid to remove old mobile homes from parks when the owners realize that no one wants them and there is no value to them other than a few bucks for the steel chasis and the aluminum siding.

I have a couple properties that i get 1% and i make a couple hundred bucks a month after budgeting for repairs, vacancy, etc.  

Most of the time you're going to be negative a few hundred bucks and have to come out of pocket every month just to meet the mortgage obligation.

If you carry-out to maturity on the hard money, you will have to make that balloon payment at the end.

As a side note if you get one of those manual lock boxes (a few bucks at Home Depot).

I'll be living on the property, so I'm searching for a dup, tri, or quad in a B Grade neighborhood.A lot of areas like Fishtown have already been burned over by investors looking to make a quick buck (no offense there, it's what we're all trying to do), so finding deals is almost impossible.