In the end, it was well worth it.Be prepared to for some rough nights where you question why you got into Real Estate, why you 'wasted' your money.

This process may seem like spining your wheels when you want to put your REI career in gear but I see having a solid financial base as extremely important.

I have a similar toilet story, but mine ended with 3 gallons on human waste on me.

Lets consider a hypothetical 3/2, recent (<10 years old) SFH is about $80k.Lets assume, for the sake of argument, I pay this.Cost: $80,000Down: $16,000Closing: $2,000Rate: 5%Mortgage (incl Tax): $430Say I even go with a PM: $120/moInsurance: ~$500Rent: $1100 Gross income: $13,200Expenses: $7,100This looks like solid CF to me.But compared to the 2% rule, it seems borderline (1.3%)Doesn't meet the 1/3 rule.Not sure which end of the 50% rule PM fees are taken out of, but with Insurance CF from this metric is thin too.What am I missing?

If I summon her to court, the date would probably be Mar. 1, so this month will be wasted either way.

Sale of the property, waste, property tax default, lapse of insurance, fraud upon application...lots of info in the note and loan docs.

A solid building should make returns without necessitating a dp.

Keith J. glad you made a solid connection.

Even the start up tech companies all packed up and shipped out in the late 90's; Mindbranch (used to work there), Tripod.It had it's boom days back in industrial revolution when factories needed fast moving rivers to create power and wash away waste.

I do not want to waste time making mistakes a wise adviser and advocate can help me avoid.