Around here a 4 bed 2 bath can pull in 1400 a month on a 1 year lease...

Vikram, Actually in this case here the numbers:90K acquisition - Paid cash50K renovation - Used HELOCDuplex - 2 houses 1 lotHouse 1: 1100 per month 1bed/1baHouse 2: 1900 per month 4 bed/1ba(rented room by room to college students) Expenses monthly: Approximately $850 per month - including interest only payment of HELOCCurrently looking to refinance into a 30 yr fixed...It's in the City of Oakland...which quite frankly is a GOLD MINE for the right type of investor.

I have a friend who owns a few houses he rents out. 2 Weeks ago the renters young 17 year old girl left the iron on the bed..the iron caught the bedroom on fire.

single family home........ tenant occupied3 BED 1 BATHSQFT 1,240ARV - $77,000LOAN AMOUNT $54,000ASKING - $75,000NO REPAIRSSELLER DOES NOT WANT TO DO SUB 2 OR LEASE OPTIONWANTS CASH........

Any suggestions would be greatly appreciated.Here's the deal:It is an REO, new on the market - asking price - $29,900 for a 2 Bed 1 Bath condo, rents are $650-$750 ARV $42,000-$44,000 The bank wants a pre-approval letter and proof of funds letter with any offer sheetIt needs carpet, paint and appliances.

To get use to it, I suggest you start going to bed a 9:00 pm, awaking at 4:00 am and just get up because you won't be able to go back to sleep.

And it's build is very similar with bed/bath and square footage.

They don't get out of bed for less than 10K which is pretty high on a property worth 50K.

Make sure they are acceptable, within one mile to three miles, don't forget style of the home in addition to sq. ft and the usuall bed/bath count.

I am renovating my 2 bed 1 bath, 800 SQFT condo.