The LA Times has a great online tool (you can check it out here)Develop an idea of what rents go for.

Having some flips to show as an example would be a huge marketing tool.  

I see it as tool to add to the utility belt. 

I threw you numbers into my modelling tool with the following changes:I used the ask price: 180Kmaintenance - 10%vacancy allowance - 10%Insurance - 1K/yr {rather be too high than too low}lawncare/snow removal - $75/mth,  $900/yrHydro (House) - $100/mth, $1200/yrWater/sewer - $85/mth, 1020/yrGarbage - $85/mth, 1020/yrMortgage: an LTV of 75 and 6.0% interest rate with a 30yr amortization.an opportunity cost of capital at 8% a 15 year hold period.Did not count laundry revenueThis brings your OE to ~1025/mth,  ~12,300/yr  ... an operating ratio of ~43% ... which strikes me as low, but wonderful if true.Just to be pessimistic, I added in another 2000/year of misc expenses to bring your operating ration to 50%With all of the above in the mix, I get a debt coverage of ~1.4 and a CoC of 10.5%  Which is passible.If you could purchase for 165 to 175K and the real expenses are closer to $12-13K/year, then this is will be a good investment with the following caveats:- I did not budget for upfront capital improvements that you would need to do at purchase;- Since I know neither the market nor the property, I modelled with no property value appreciation and no rent improvement.

I plan on implementing a similar strategy myself in a few years.Glad to hear you're finding success with it, and hopefully BP will be a great tool for you in the future.Cheers!

It's been invaluable, I am having a contractor out this week to see the tub and shower and give his advice about what I should do as well as give me a quote.

I am looking forward to using this site as a valuable tool in my wholesaling business.Barbara

The knowledge you get on this site is just invaluable.

Glad you found your way here.I'm sure you'll be able to use the search tool on the top right hand corner of the screen to research details on the strategy you touched the surface on in your 3 day seminar!

The forumn is an invaluable source of free information.