I dove into RE, and forgot all about birddogging until now.Thanks guys!

Not getting or knowing the total payoff is an absolute DEAL KILLER for me.If you encounter this, go to a reputable Title Company and they are usually pretty effective in getting payoff's in these situations.Good luck,Jim Watkinswww.dfwmentor.com

Manhattan Development Site(Tribeca)**Direct To BrokerZoned-C6-2A w/ TMU F.A.R.(6.02)Lot Size-25x176.5Build Size-25x176Floor Area-21,938SqftRight Floor Area-32,189Sqft5 Story Building Delivered VacantApproved Plans to build Total Gross Floor area of 32,189SqftPurchase Price-$18M

Your $150,000 cash down has given you in 30 years –$3,365,000 (4% annual appreciation)$1,500,000 (2.34% annual “appreciation OR principal paid down on loan, however you want to look at it)$508,000 (after-tax cash flow invested annually into 8% annual yield account, whatever that is)$410,000 (increase in rents minus increase in variable operating costs invested annually into 8% annual yield account, whatever that is)Total gain - $5,783,000 or 12.9% compounded annual yield on the $150,000 investment.

Please correct me if this is wrong:From the net operating income I can deduct...annual depreciation (cost of property divided by 27.5 years) +total annual mortgage payment +total annual insurance payment =after tax cash flowDid I miss something that I can deduct... or did I add something that I cannot?

Add to that your taxes--$3300 divided by 12 for a monthly payment of $275 a month for taxes plus your monthly insurance payment of whatever—I’m guessing $200 here, and am probably way off, for a monthly total of $2749.68 payment each month.

Totally understood, that was the answer I was looking for.

this brings up something i was thinking about. i will be looking for properties where i pay cash for purchase and rehab, with this total amount being 70% of ARV(or less). then, with a partner, who finds the deal, buying me out(whether with new loan or ?)

you have to have an accurate rehab estimate, and the total (purchase+ rehab+ holding/marketing) has to be figured relative to a reasonable sales price.

I forgot to answer your question Charles.