On paper it seems to make sense, but this would be my first deal and I want to make sure I’m not missing something :) If you’re interested in seeing the number and sharing feedback here they are... https://app.dealcheck.io/#!

Some things didn't change, such as the requirement that the property be on unplatted land, so that definitely restricts the number of eligible properties. 

You won't understand something and need it beaten into your head ten times.

If anyone knows anything different feel free to chime in if I am missing something.

Seems like it could be something to do that could make the cashflow work more.Reason I ask is as I put proformas to see if buying a rental is better than investing in the market if I had the same cash available to start and additional cash flow each month (or negative)Thanks

something like this would probably run about 12%-13% with 3-4 points for an extremely experienced borrower .

Something that has to be sold to provide cash flow until it eventually runs out. 

The only reason to lower current rent amount is if rents are dropping in your area, and then you should likely analyze and adjust if tenant can easily find something similar for less.

Now that I’m 29 I realize I need to get a little more serious about my investment portfolio and make something out of my career.

Then there would also be something about the original closing attorney E & O insurance, except that that attorney filed bankruptcy, due to one of their partners embezzling funds.......I might try to find out who now has the files - bankruptcy trustee - and whether they have access to those closing files and see whether there's a water lien query in the file, which was answered with 'no outstanding water bills' from the water company