.): $30kDeduct Holding costs (cost to keep the home until it is sold which includes utilities, property taxes, insurance etc): $2,250= Revenue after all debt paid : $282,750So my dad will get all his money back, my aunt will get roughly $250k and I will get $28k.

Call terminated.This morning I received this message:Having to rely on these guys is the riskiest part of our business.I thought sharing this here can make your life less stressful if you receive a similar message.

They're the ones that tip the balance in the landlord's internal calculation of, "Is this life really worth it?"

I know subject to's are risky but ours only took six months (we had to wait six months because of lending requirements but I have heard of people on BP getting around this) to put the deal into a traditional financing situation and we didn't have any problems with the seller's lender - had a good insurance agent that put insurance on the property without causing redflags with the seller's lender.  

I currently own 20 units, and still work full time self employed as an insurance agent, so I am looking for a CPA/Tax prep that is knowledgeable in the RE space.

Our total mortgage amount is 165k and our total out of pocket is about 9k, that's closing costs, fees, insurance, appraisals everything.

Welcome to why strategies that work on a spreadsheet don't always work out in real life.

I will probably want to refinance at least 80% of that into something fixed at some point to hedge against rates going up.Monthly costs:* debt service = $441 (141,000 *0.0375/12)* insurance = 78 (quote from Geico)* HOA: 860* taxes: $149 (it's $894 each per year)* repairs: $100 (I'm estimating a little less than with an SFR because with a condo I don't worry about the roof, the hot water heater, landscaping, etc.)total: 1628Monthly income: $2660 (1410+1250)Net: 1032Cap rate = 8.7% (1032*12/141000)Things I didn't include: closing costs, vacancy.

@Michael Plante We live entirely off a base salary after taxes of $4562 a month ($1000 mortgage, prop taxes, insurance, food, vacation savings, etc) and I also make about $5000 a month in commissions.

Check out my profile and read through some of the posts where I rant and motivate people that are 20-40 years old saying that age is just a number and telling them life experiences they never had.