Contrary, I remember reading in an investment book that it may be better to go with a 30 year fixed which would result in a few extra dollar today for investing although I would lose nearly as much at the end of 30 years.Danny – I really liked your suggestion and I would seriously consider it if I did not make so much money in the IT industry.

In fact, I would think that if they were flipping their first home and you cleaned out someone’s hard-earned SDIRA thru foreclosure of their flip, you could still be in a world of hurt standing in front of a judge.Jeff

If I were to pony up the $10k, that would throw a wrench in my rehab and will end up costing me even more money since I won't be able to hire out for other repairs.No one at closing caught the error, including the realtor who also received an extra $600 broker's fee for "reviewing the documents" with me.

It's like taking financial advice from a planner straight out of college, fresh from his test and earning less than 20% of your income.

Brian it just depends on the tenants.I do small increases but not too large.If the tenant has lived their awhile I have to weigh going up 20 bucks a month for 240 extra a year versus them moving,losing a months worth of rent (840) and then putting about 1,000 or more in new carpet paint and repairs.So at 240 extra a year it would take me about 9 years to recoup that money on the unit.It also depends on if you plan holding it that long or not.In my area tenants are barely getting by and lay-offs are happening every month to some.I think right now at least for my area isn't the time to push rent increases strong.I know what you are saying about landlords not increasing the rent for years and years.Some just want full and not deal with the headache anymore.They would rather have full and paying than charge higher rates and have more turnover and struggling from the tenants and more accounting to keep up with at multiple payments per month to pay the total rent.I believe as long as you are close to market rent but under by just a little you are not losing that much.It also depends on how cheap you bought the property.Some buy really cheap and cash flow like a monster because they purchased so low even though below market rents.

For that reason I will charge extra rent each month to cover these costs and I will pay them directly myself.

It takes less than 5 minutes extra.

Rehab about $20K (plus an extra $130 for the speeding ticket I got driving to the house the first time) with an ARV of about $140K.2.

Here are my options:1)Renovate it with the rest of the house and leave it as a second apartment.2)Add a doorway to the main house, remove the kitchen, and remove the extra power meter.

Any interest earned is paid to the landlord... or as the landlord directs.