Payments dispersed either in lump sum or annual as new development sells off.

Besides the fact that sellers lie (early and often), if you're buying from a distressed landlord, they often have not kept up with maintenance and have put a bunch of deadbeats into the building just to fill it up.

The income on all of them don't even cover your note+taxes, let alone any expenses, vacancies, maintenance, management, etc.How is the income good here?

I just want to make sure I have an understanding of the 50% rule. 8% Vacancies6% Insurance11% Taxes11% Maintenance/Utilities6% Management8% Major ProjectsWith the remaining 50%, you subtract the mortgage payment.

If you look at their site, they should have annual reports on the fast growing markets, as well as growth projections.

. = 3,792 mnthly payments44,400 annual income - 45,508 debt service = -1,108 (loss in year 1)Hardly impressive.

The annual inspections that are conducted by the government to assure "habitable" housing make us landlords stay on top of things and make tenants clean up their act.

And do whatever it takes to own, like do minor maintenance, and get a part time job at Wal Mart or Home Depot on Saturdays for their "Home Purchase Savings Fund" (this is only $75 a week or $300 a month as an extra option payment).

In our State we are required to provide an annual income and expense statement to the Tax Assessor.

Now I'll give you a funny:The maintenance man called me to tell me that while patching roofing on one building he looked over and saw someone had installed a full size pool with pump and filter on the top of a 3 story flat tar roof building directly adjacent.