Total was $4177, $ 850 below my budget.Closing was changed till next week.

But once you buy it you are totally broke.”

If the tenant wants to make additional income by doing so, they can, when their lease expires, purchase their own property and begin renting out rooms.Gail I totally respect that!

We actually borrowed $40,000 of this 74,814 with the building)TOTAL $255,000So...Now we need to know what WE put in for money.

@Dan MarshallWell, I'll assume you mean your "Total Monthly Payment" is $1,830 and their are no other additional fees. 

But I actually think it's good to have people on the podcast occasionally that don't focus totally on real estate to show a different perspective and strategy .

@Nick Patel Sure lots of people do illegal stuff out of total ignorance.

This sounds a bit much but like I said, if this is a high end area it's totally possible! 

When i work with agents who have buyers, I tell them to total price to them (my fee included) and add their fee on top (doesn't have to be % based) and just have your buyer agree to pay you for bringing the deal together.

$1100/year Vacancy = $92 Principle & Interest = $340 Total monthly costs = $896.50 Cash flow = $1150-896.5= $253.50 Per unit cash flow = $126.75Cash on Cash return = $253.50x12 / $23,450 = 13%Cap Rate = $7122/$83,000. = 8.6%Would you take this deal?