I am figuring 58K 'All In' The current rent is $700, but I feel it could easily be $850 or so, but I am basing my figures on $800.The house has had new roof, windows, siding, water heater, and flooring in the last few years.My rough figure are;8800 Operating Income$3800 Expenses (only about 40% since all the recent upgrades)$5000 NOI - $4000 Debt Service= $1000 Cash FlowNot quite $100 'per door', but I would also be building equity at about $100 a month, along with likely appreciation of $100 - $150 month.

So help me out:Im aware it's against the law to turn the water off but what if I can't afford to pay the bill (what if) and the city cuts it off?

We attempted running a space heater under the sink(next to the dishswasher, where the drain line arrives to feed the water into the garbage disposal, but even after a few hours of that, we ran the dishwasher and it failed to drain?

While your opinion is duly noted, and I agree that the opportunity cost is higher to rent elsewhere in most cases, the fact is, under the definition by the International Accounting Standards Board, the example would fall under a liability.

I'm factoring an extra 6-8 weeks on top of the standard 6-8 week schedule for the rehab.

Lots of extra stuff there, the water bill was higher than ever, and the tenants upstairs are willing to go to court with me to testify to all the constant noise of these several people.Is your tenant paying rent on time?

FYI - I recently posted this in another thread - might help you get your head around what it takes to start a wholesaling business ~What you need to get started is:1) A process2) A teamKnow exactly how your process will work:a) Meeting cash buyers & understanding their needsb) Finding motivated sellersc) Evaluating propertiesd) Calculating offerse) Testing the water with your buyer(s) if necessaryf) Negotiationg) Closing via a contract/agreementh) Assignment to a cash buyer via another contract/agreementi) Receiving payment at closingFor your team, you'll need to know:a) Cash buyers, of courseb) Real estate agent(s) or broker(s) - provide comps, MLS opportunities, etc.Perhaps also,c) Title company (good to have but more important for cash buyers; but you may want one to hold earnest money in escrow)d) Attorney (required in some states)Best of luck!

$500 is pretty standard if they just send you a lead on a FSBO sign they saw while driving around.

Unfortunately the downs are the fees, you will have to have a broker and you'll need to make sure he's investor friendly, you will be held to a higher standard because you'll have t follow the code of ethics and responsibilities to the public.

I found it interesting.How to Encourage Private Flood Insurance; Why Delaying Biggert-Waters Is Not the Answer