----------------------------------------------------------------------Property type - 2 duplexesFannie Mae REOPurchase price $369,000 (includes $40k renovation)Financing - FHA 203(k)Down payment - $8559Out of pocket renovation - $20,000Rebate - $1500Final out of pocket - $27059Here's the monthly cash flow -Duplex 1PITI - $1467.50Unit A rent - $1100 (below market - this is a family member)Unit B rent - $125015% vacancy/maintenance reserve - $352.50Net income - $530Duplex 2PITI - $1467.50Unit C - owner occupiedUnit D - 20% personal use, 80% vacation rental - $1500 (average)15% vacancy/maintenance reserve - $225Additional VR expense - $450Monthly loss - $642 <--- Not quite living for free, but not bad...and my in-laws have their own apartment when they visit!

Hello, my name is Virginia. I live in South Jersey and work full time right outside of Philly. My boyfriend and I are finishing up real estate school at the end of summer and are currently hunting for the right multi-...

I am trying to wholesale my 1st property. I contracted for 35k + my fee. Investor went to look at it today. When I called her to get feedback she wouldn't answer phone, but later sent me an email offering me $15k. She...

It helps other new members to see who a deal progresses. - Ned

Bakersfield seems like a good option, curious to hear what other local members suggest for good invest areas.

Welcome to the BP family; It appears there a lot of members from the Garden State and from your area you should exchange war stories.

As a new member to the community, I just wanted to take some time to introduce myself.

Hello all, I am a new member from Nashville TN.

I'm attending several single property, single family home auctions in Maine within the next couple of weeks. They allow 30 days to pay balance if I'm the high bidder. If the property were well documented (photos, ma...

If you haven't found them already be sure to check out the blogs, both Bigger Pockets and member, and the podcasts. - Ned