See Lonnie Scruggs' site for all the details

I do not take into account advertising as I plan to use craigslistSo for example: Fourplex in good rent areaPurchase Price 129,900Rental Income: 2200/month (525/unit)Maintenance: $220Vacancy: $220Property Manager: $220Insurance: $120Taxes: $378.88/month (@3.5%)NOI: $17,040.00CAP: 13.12%Cash on Cash: 11.81%Profit per door: $104.52The same property in a better taxed area is:Purchase Price 129,900Rental Income: 2200/month (525/unit)Maintenance: $220Vacancy: $220Property Manager: $220Insurance: $120Taxes: 108.25/month (@1.0%)NOI: $17,040.00CAP: 13.12%Cash on Cash: 19.46%Profit per door: $172.17It really is the difference between making a property average and worth while.

I don't show houses to anyone unless they are a close family friend or relative my full-time business is property management and I think that's where it's hard to find good PM.They are out there though may be worthwhile to go to REI meetings and ask who everyone else recommends write them down and give them a call.

That is a nice list to find sellers but it lacks detail.

Find out what's available and the details (this also helps you determine rents.)

Thanks for the posts, I've created a thread with a bit more details on the Geneva Situation : http://www.biggerpockets.com/forums/12/topics/83728

You won't get a lot of details but you will get a lot of good ideas and I think as a first read you can't get much better.

Frank Gallinelli I appreciate your detailed response.

My friend has told me that they're starting to get pretty nervous about holding onto the property, and I contacted one of the partners (it's a husband and wife team) earlier this week about interest in the property.I don't have any details yet other than it's a 2 bed 2 bath unit in an area that I have scouted and like I don't know yet what the asking price is.

The Trump name represents quality, attention to detail and value.