I would have to investigate the area to make sure it is zoned for what you want to build, make sure that there are no problems with soil and researching the geographic area to give you statistics on what you can expect to profit on your project.

You are setting yourself up to be the classic burnt out landlord in a few years.From your comments it sounds like you don't understand how banks like to fund investor deals and you are expecting something they don't provide.

Sure will set my expectations (and Goals and Objectives to the point) right and work towards it.Really appreciate your response to my convoluted Question!

So, after replacing some carpet, painting the whole place, and some other minor improvents, here's where I'm at.Expenses $9600 (including everything but mortgage)Income $17300Expenses=55% of gross rentsDuplex 2I've owned for 8 years, and it was 3 years old at the time of purchase and needed nothing but a little touch up painting at the time.Expenses $31200 (including everything but mortgage)Income $104200Expenses=30% of gross rentsTotal expenses between the two = 34% I do expect this number to go up a as the property that is now 11 years old starts to need more repairs.

Wouldn't really expect much appreciation there, unless there's some local driver right where you are going to buy.

This is not as underhanded as it sounds, however -- I do far more refinances than purchases -- but certainly I am not going to go through the motions of putting together a loan before I know if it is even doable, thus the request for a comp and the expectation that this will be the least value we will get.

Instead make contact with the seller on the listing, establish a relationship and tell her what you really want, what you expect to pay and the terms you need and I promise you you'll get a bunch of hugely discounted deals.

However, since this bubble involved a HISTORIC runup in prices, I think you can reasonably expect things to be much worse this time.In addition, our country is at or near a crisis point.

Be sure that the tenant is not expecting any discount for an upfront payment.

Best of all, Port Royal at Spring Hill is expecting strong renter demand for the community as one of only three apartment home communities located in the rapidly growing area.