County prices have dropped 21% in the last year alone.

If it's just water/sewer , that's fine , most landlords pay water/sewer and even trash (And then include it in their rent).However , do not EVER pay your tenants water/gas.

Drop me a line soon.Nick

The property I am looking at in NJ was being listed for 85k and just recently I noticed that the bank dropped the listing price to 80k.

According to that ad, which of course may not be reliable, the house rents for 850 and is in move-in condition.850 - 365.54 - 149.42 = 335.04/month profit (minus whatever other expenses I may be missing here.)If you go back and change that mortgage to a 30yr, at 7%, your monthly payment drops to 254.48, so your profit rises to 446.10/month (again, minus whatever additional expenses I am missing).Not a ton of cash but not a ton of work either, and presumably the value of the property increases with time and you build up equity in it without ever paying the mortgage yourself.So why is this such a deal and why hasn't someone grabbed it already?

Another downside of that housing bubble that so many hailed to be good for this country, while some of us waited for the other shoe to drop!

I have a gas hot water heater that is indoors in a closet that is about 7yrs old.

And honestly i know a new furnace and hot water heater were installed approx. 5 years ago. the roof is in fair condition and im not sure about the foundation.

so drop me a line if you feel like telling me your distance investing stories...long story short, i've heard a lot of good things about indianapolis and i'm interested in meeting investors in the area familiar with the market there and to maybe school me a little bit on what i should expect on my first couple of deals.

He said that would drop to 0.75 at 75% cash out with under 740 score.He said the origination point is their only fee besides the 350 appraisal fee.