I risk some calamity with the economy, etc. if I hold off, but I expect to make an extra 15K or 20K (if the appraisal doesn't screw me up) if I wait.

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Our current plan is to just apply all the net rents (cash reserves already established)and all the extra money from our paychecks to pay the debt off in about 12 to 18 months.

However, I think shelter/housing is always going to take up the largest percentage of earned income.

If top is ajar and extra bag on the side - 3-cans.

I mean, we could all just chug money into our 401k's and let Fidelity or whoever control our retirement... most of us are willing to do the extra work of being a land lord or RE investor to boost our returns... by that same token, why wouldn't we be willing to be a bit more geographically mobile in our investments to further boost those same returns?

Here's some numbers:GOI (minus vacancy) = 21240NOI = 10620 (50% rule), however, because everything is new, NOI could actually be near 70% with no cap expenditures in the near future.Cap rate = 11% minimumcash on cash return = 25%I have a side deal with my brother/partner where he would be property manager but would forgo any payment in lieu of earning equity in the property - I can explain more if anyone is interested.

If they caused a problem, they should fix it or pay if someone else has to do it.Sounds to me like you've bought a property in poor condition and the PM is nickel and diming you for a little extra every month.

If in-house, perhaps offer to pay extra to get it expedited (with the terms they're offering, paying an extra $100-200 for the appraisal is still reasonable).I don't think 45 days to close will kill your ability to find REO deals, but it may keep you from getting the "hot" deals that tend to get scooped up in one day.

For rentals, that's all I look for is 4 bedrooms, if it's a 3 bdr I make sure it has a basement so I can add an extra bedroom and bath.