Money that is borrowed in a panic is the most expensive kind.If I were you I'd take a hard look at your total finances, including the current rental.

So, points calculated on the total.$130,000 Purchase price $2,600 Purchase closing costs $25,000 repairs $12,600 interest (computed on above items, 16%, 6 mo, $157,600) $11,900 points (computed on above items, 7 points on $170,000) $3,000 holding costs (insurance, taxes, utilities) $17,600 sales closing costs (6% for agents, 2% for other costs)$202,700 total costs$220,000 sales price $17,300 potential profitThat's sort of a worst case for the hard money costs.

Hey there Totally,Its nice to see that their are more and more people that choose to leave their previous working enviornment to try out real estate!

They say that the rents will be 695$ a month for each apt which I am not sure about..for this area these rents are about 100 too high...but they say that the area is changing...but maybe they can only get 600$.....the area used to be a bit more degraded but they just got a new shopping center and all sorts of stuff like that so it seems to be going up...I have never bought anything before and would also like a house...I have a total of about 300,000 cash.

How can $2600 a month in rents pay for your total PITI.

Totally unfinished basement (no windows except one sliding door for entry) is another 1400 sq feet and has a full bath.Bad things about the house:Poor "street appeal".

I wish I could just go to sleep telling myself I am totally confident and then wake up that way.

In total agreement; its not flashy.

I have been presented with a package deal. 7 homes a total of 11 units.

Maintenance @ 5%: $696 Taxes: $527 Insurance: $500 Utility Expenses: $2,951 Total Expenses: $4,674 Net Operating Income: $6,460 Debt Service: $4,126 Pre-Tax Cash Flow: $2,334 Expenses/Unit: $1,558.00 Unit #1SF: 660Avg.