They've made up flyers and business cards.

They found a contractor who can do it for $900 but my contractors think it is too expensive (double what the others charge).

In our case, my ERISA attorney even recommended getting a business credit card that didn't provide frequent flier miles as an incentive -- he claimed that if we personally used the frequent flier miles obtained through a credit card used for our ROBS business, we'd be violating ERISA law.- Make sure you truly plan to operate your business like a business, as you will be required to do all the paperwork, filings, board meetings, public filings, resolutions, etc. that any C Corporation has to do (no, you can't run a ROBS under an LLC).- Make sure you plan to make money in your business. 

I do know of some people who will collude with a tenant to increase rent (e.g. once you find out they are on section 8, you agree with the tenant you will charge her $900/month, instead of the advertised $800/month.)

Over piad top heavy administration is the real probelm, 120 Kfor a guy who is in charge of parking and grounds maintenance at a state college.

You're money did a bit of the work, but most of the profit was probably through not charging for your labor.Year 2, you gained more knowledge in the industry and got a raise on your time and earned a good ROI.At the end of year 3, the amount you can earn on your labor stops growing so quickly, so it is very hard to double 500k.

quick update , yes Bill the red cross came in with a debit card for food and family stepped up to find housing temporarily.Repairs look to be about 25kwill take 4 weeksinsurance company not out there yetsec 8 inspected will most likely give a move voucher to tenant but I would like to keep her in the property if possible.Insurance is for 25k so lets see how that plays out.

Hedge funds, after all, charge 2 and 20 and still make their investors a healthy return.The main thing to be concerned with here, with this or any investment, is if you are considering all of the costs of the investment and if you are allocating risk properly.

If you start paying utilities, the 50% rule no longer applies. ...Others have tried to state that, only to be told otherwise:http://www.biggerpockets.com/forums/88/topics/37271-need-expert-advise-on-this-figureData I saw that justified the 50% rule showed 55% expenses when including utilities.. which makes some sense...If you're charging $600 for rent and utilities cost $150... you're cash flowing $300 or 50%... now if you include those $150 in utilities, you're still cash flow $300 but now on $750 which is 40%, 60% of your income is going to expenses.Unless you're charging the tenant $2 for every $1 of utilities you expect to pay for them, the 50% rule can't hold... simple math.

I did not move forward because he was charging fees up front that was my first real picture of yet another fake lender.