I'm still in a good position, and I'm working hard on preserving that!

Adrian, what is your position?

If you're in a situation where you job (or whatever) can make you move suddenly, leaving you in a pinch, you don't want to get into this same position again.

I'm not sure your position but that might not be the best thing to do.

In my position, I need to write them off against income.

Originally posted by James P:We planned and strategized what we would do WHEN he said no.The key to eternal optimism; maintain a positive attitude by expecting the worse.Robert Ringer - Winning Through Intimidation

So I basically have seen two basic formulas on these message boards to determine whether or not a property is a good buy.For rehabbing: (ARV * 70%) - repairs = Max Purchase PriceFor Renting: Rent * 50 = Max Purchase PriceI would like to buy a property to Rehab, but be able to fall back and rent it if I can't find a buyer quickly... while also having positive cash flow after mortgage and operating expenses.If I put an offer on a property for $25k and the ARV is $50k (if I put in all new flooring, paint, and redo the kitchen and both bathrooms) that leaves me $10k (According to the formula) for repairs which I could likely do if I'm doing it all myself.BUT...That would have me with $35k into the property, and I am only confident of being able to rent for $600...

Also, be very wary of anyone in a so called position of "trust."

The Wall Street losses are a trailing indicator.A fair amount of the losses are not even directly connected to the home mortgagees as some are trading positions that people got wrong.

Stay positive!