You could try using several different modified forms of the IRR though I prefer to use Net Present Value and a Profitability Index.

I don't want a fancy car, although I do enjoy hotrodding (build them myself....and then sell them for a profit.....but drive an 8 year-old Neon as a daily, great on gas, cheap to work on).

Tax lien certificates are a viable and profitable strategy if you know what you are doing.

Another thing I find interesting that seems to be missed here....When Joe the Plumber's taxes are increased - who do you think is going to see decreased profit in his "flipping" business when rehab costs increase?

He says you can simply sign a "purchase agreement" with a buyer giving you principle interest in the property, find a rel estate agent, have them list the property on the MLS for more than what your purchase price, and sell, keeping the profit.

The idea is that a landlord should make a decent profit at that price.

I guess I'm looking more for long term profit then anything in the short term.. so definately a buy and hold type thing... thanks again for the help everyone, you guys are amazing.

I have created a Discounted Cash Flow model on excel that utilizes sensitivity analysis, NPV, Profitability Index and other performance ratios so that you can analyze 15 different types of property or property under 15 different economic scenarios.

This somehow allows you to profit even though you put close to market value into the property. and you don't risk much money somehow.

You can use a "shared appreciation mortgage" if your payback is a cut of the profit, or just an ordinary mortgage if its a fixed about.