but then its times 10 and 3 more dont fit right so you throw em away and buy new ones, another 200 for new hardware for those doors, and oops they all still need to be 1/8th inch less wide, and guess what you dont own that tool - another $200...stuff like that...You make one thing look brand new, everything else in the room now looks like crap.

A bit of an update.I am in the middle of a deal for 29 individual properties, 30 total units.As part of the due diligence I am using different tools to analyze the details.

Run the numbers through the Property Analysis Tool and see what it turns out.

The world revolves around income and wealth is only a tool, it doesn't pay for groceries for long.The investment of Real estate is in owning real estate and having tenants cover your expenses.The income of real estate is self employment.

The 2% is just a screening tool and I always also consider the cash flow and equity.

I'm using this flip as a learning tool, to get more knowlegde of the whole process.

One of the things they said they used as a networking tool was a forum on their website where investors can swap ideas and what not.

Let me *try* to clear up the difference in opinion here, at least as I see it...It sounds to me like MikeOH and Bryan are arguing the same point, but their actually talking about two different things, and both things are tremendously important.I think Mike's point (and if it's not, I apologize) is that the "50% Rule" is a great tool for a first-pass approximation of whether an investment is likely to be a good deal.

Contrary to popular beliefs, I also feel that when things are going bad.....that's the best time to make a profit.

I am gathering all of the tools I can in terms of knowledge to make the best decision I can.