I highly recommend browsing their webinar archive.http://www.questira.com/https://www.questira.com/all-events/webinar-archiv...And their prohibited transactions advice.https://www.questira.com/education-center/ira-proh...We operate a drywall business and prefer to leverage our trade contacts and employees in order to do our own property upgrades and maintenance.  

Zip City State Median Home Price ($) Average Rent ($) Gross rental yied 2013 Rental vacancy rate by Zip (%) 13165 Town of Waterloo NY 79,100 1,365 20.7% 6.7 13411 Pittsfield NY 76,400 1,424 22.4% 7.4 14125 Town of Oakfield NY 87,500 1,400 19.2% 4 14437 Dansville NY 81,300 1,416 20.9% 3.7 14445 East Rochester NY 95,800 1,289 16.1% 1.4 14510 Mount Morris NY 72,600 1,399 23.1% 4.1 14517 Town of Nunda NY 78,100 1,441 22.1% 7.5 14605 Rochester NY 40,900 828 24.3% 3.6 14608 Rochester NY 51,100 866 20.3% 6.3 14611 Rochester NY 47,400 855 21.6% 4 14621 Rochester NY 44,700 848 22.8% 5.4 14715 Town of Bolivar NY 47,400 1,401 35.5% 4.6 14727 Town of Cuba NY 69,800 1,456 25.0% 4.7 14735 Granger NY 57,800 1,402 29.1% 5.9 14739 Town of Friendship NY 46,300 1,395 36.2% 6.5 14806 Town of Andover NY 49,000 1,402 34.3% 5.1 14813 Amity NY 55,100 1,433 31.2% 4.2 14891 Watkins Glen NY 106,800 1,449 16.3% 1 14895 Wellsville NY 50,300 1,392 33.2% 3.6 15045 Glassport PA 53,100 776 17.5% 2.6 15110 Duquesne PA 44,500 780 21.0% 6.4 15132 McKeesport PA 46,000 780 20.3% 2.2 15148 Wilmerding PA 46,500 806 20.8% 0.5 15210 Pittsburgh PA 54,400 876 19.3% 3.4 21521 Barton MD 66,400 1,217 22.0% 5.1 21562 Westernport MD 59,600 1,279 25.8% 4.9 44055 Lorain OH 52,500 712 16.3% 1.3 44102 Cleveland OH 48,000 821 20.5% 6.2 44104 Cleveland OH 43,200 835 23.2% 8.3 61401 Galesburg IL 64,200 1,058 19.8% 4.1 73108 Oklahoma City OK 43,900 653 17.8% 3.8 73111 Oklahoma City OK 49,200 718 17.5% 0.7

.)$0Gross Operating Income (GOI)$16,740Annual Opertating ExpensesAccounting$300Admin/Bank Charges$0Advertising$0Electricity$0Elevator$0Gas$0Landscaping$0Legal$200Maintenance & Repair$2,000Payroll taxes$0Permits and licenses$0Pest control$0Pool$0Property Insurance$440Property Management$0Real Estate Taxes$3,850Security$0Telephone$0undefined$0Tenant buyout$0Trash$0Water$0Other$0Other$0Total Operating Expenses$6,790Net Operating Income (NOI)$9,950Annual Debt Service (mortgage payments)$7,811Before Tax Cash Flows (BTCF)$2,139Key Operating RatiosCapitalization Rate9.05%Cash on Cash (COC)9.72%Gross Rent Mulitplier (GRM)6.11Net Income Mulitplier (NIM)11.06Debt Coverage Ratio (DCR)1.27Expense Ratio (ER) Per Unit40.56%Price Per Unit$110,000Here is a link to the property:https://ithaca.craigslist.org/reo/4827978957.html   

You have enough funds to hire your first 5 employees.

I put up all the money for the purchase and materials, he or his employee do all the work and we split 50/50.

I am closing on a SFH in Holiday, FL next week to support some employees rather than hotel them.

They are expected to make interest-only payments for the duration of the project@Mark Higgins We usually have a 3rd trust deed that we put on the property that signifies "Shared Appreciation Mortgage," usually the 50/50 of net profit, or 6% of gross sales price. 

If you would not mind, I would like to know what your ROI, CoC, CAP rate, Expenses/Income, Gross Income, NOI, etc. were before you converted this home and what they are now.

Cap Rate = NOI / PriceIn this case, the gross income is about $9000/month, and assuming the 50% rule, the net income is about $4500/month.

The rule simply states that over a long period of time, and number of units, expenses will run 50% of gross rents.It should be used as a baseline for evaluating property.