20% down so no PMI is a good rule.One advantage of using 20% down is that under United States tax law, mortgage interest payments may be deductible on the borrower's income taxes, whereas mortgage insurance premiums are not.

For taxes, insurance, repairs, etc....NO IDEA Can anybody give me a general guideline to follow?

I must be in a good area then because there are TONS of 3 plexes for sale around here from 70-130k which gross about 1200-1500 per monthI'm actually going to get a call tomorrow - I found a property that is fully rented right now, grossing $2300 per month selling for 135k...so i'm gonna talk to the realtor tomorrow and hopefully have that as my first property Taxes and insurance are very low around here to.

Clearwater, FLTHE GREAT OVER PRICED INSURANCE STATE!!

The builder pays ALL closing costs What about the taxes & insurance?

Price/ Unit $ 52,500 Price/ Sq. ft $ 74.46 Rental Income Scheduled Rental Income 48,000.00 ( per year) Vacancy (0%) 0 Effective Rental Income 48,000.00 Service and Other Income 1,615 Effective Gross Income 49,615.00 Operating Expenses Utilities: 4,320.00 Repair & Maintenance 1,300.00 Turnover Costs/ Cleaning 3,000.00 Taxes 2,568.00 Insurance 1,750.00 Total Operating Expenses 12,938.00 Net Operating Income 36,677.00 Debt Service 22,884.00 Cash Flow 13,793.00 Cash Flow/ Month 1,149.42/mo Cap Rate 9.178% 4 2-bedroom units rent for $550 4 1-bedroom units rent for $450 Can anyone help me figure out if this is a worthwhile deal?

It is locally adjusted for different areas of the country.Some can give you labor hours allotments to do specific tasks, and these labor rates do typically include a 15%- 20% contractor mark up and the needed basic worker insurance rates, etc.That's the easiest and fairest way to go for you I think.Look for stuff by BNi and RS Means.Thanks,Ken

she said in our market, las vegas, there are plenty of notice of defaults and forclosures happening.http://www.inbusinesslasvegas.com/2006/10/20/homeloans.htmlas a result of these 80/20's, there isn't any mortgage insurance.

Mortgage, we were shooting for 650, including PMI, insurance, taxes.

Then calculate the seller's cost to sell.....title insurance, taxes, ect...