Just make sure the numbers make sense and you do your homework on tenant screening!

Who knows what will happen to taxes in the future.As far as renting your existing residence vs. taking the loss now, evaluate the math.

It is being supplied to sort of check his math.

You should do your homework before you proceed any further.

My math: 1200*.5=600 (50% rule) 600*12=7200 7200/115,000(total cost)= .062 or a 6.2% cap rate Not the greatest for building a buy and hold portfolio.

A web form to type in the from address, to address, salutation ( all of this filled in with sensible defaults ) and body of the letter - which is fed to a program that converts it into a language called "Latex" ( a typesetting system invented by Donald Knuth for doing beautiful math books ), and a utility converts it into a PDF that gets sent to the complex.

So unless you have the extra 450k cash or more and can wait for those renters to die off you were S.O.L. as the sellers were LOL.So you move on to the next one right, sure and that one is 550k with the same math.

Especially dealing with someone you don't know or out of your local market, I'm sure you're just asking to get burned if you don't do your homework on comps or real rents expenses vacancies etc.

What really happened is I over paid.Mistake 1: I didn't do my homework on what stuff costs because using connections.Mistake 2: I was to embarrassed to negotiate because their my friends friend, uncle,cousin,family friend and I just couldn't stomach up and say can it be done cheaper.Now when I have personal connections ask me for work I say be in the ball park within the 3 estimates I got and it's yours.

Looks like I have some homework to do.