Purchase Price: $350,000 Total Pads: 37 Rented Pads: 33 Acres 14.32 Lot Rent/month: $200.00 Water - Well All Tenant Owned Homes Sewer - Aeration Jan Rent Roll: $7,000.00 Rent Roll/Year: $84,000.00 95% Occupancy 2015 Rent Raised $20 Income * Rents: $84,000.00 $91,700.00 Animals/Late Fee's Water Sewer Subtotal: $84,000.00 $91,700.00 $0.00 Total: $84,000.00 $91,700.00 Expense: Taxes: $6,513.00 $6,513.00 Insurance: $1,600.00 $1,600.00 Read Water Meters $2,400.00 $2,400.00 Water $3,100.00 $3,100.00 Sewer: $8,300.00 $8,300.00 Trash: $6,000.00 $6,000.00 Electric: $2,400.00 $2,400.00 R&M: $2,500.00 $2,500.00 Mowing $1,500.00 $1,500.00 Snow Removal $1,500.00 $1,500.00 Management $4,200.00 $4,200.00 Subtotal: $40,013.00 $40,013.00 Contingency: $0.00 Total: $40,013.00 $40,013.00 Net Income: 2015 2016 Gross Income: $84,000.00 $0.00 $91,700.00 Expense: $40,013.00 $0.00 $40,013.00 Net Income: $43,987.00 $0.00 $51,687.00 CAP Rate 12.567 CAP Rate 14.476 All Homes Are Tenant Owned Except For One Home Water Is Well, Owner Is Not Billing Water Back To Tenants, New Owner Could Do That Sewer Is Aeration Plant, Owner Is Not Billing Tenants, New Owner Could Individually Meter Sewer And Bill Back Tenants Roads Are Tar & Chipped New Owner Should Raise Rents Minimal $20, Or Bill Back For Water, Sewer, Or Trash Great Paying Tenants Gas Workers Take Up The 4 Vacant Spaces From March Thru October With Their 5th Wheel Campers For 100% Occupancy Seller retaining gas and mineral rights

It was information I needed as the check came from his father in law, (went straight to the back on which it was written), but my only reply was asking if it would be straightened up by the first for March rent.

His company serves investors and may be a good fit for you.And who knows... maybe you guys can start a band.

At this point in my life I am eager to have more time and flexibility with my family while still (hopefully) providing a comfortable living and a pathway for passive income and retirement.I recently joined a local investor's group, signed up for R/E school (for educational purposes), which start in March and have read just about every piece of literature I can get my hands on as it relates to real estate investing and I still feel quite green.Throughout my professional career I have been blessed with amazing mentors and a strong belief in "paying it forward".  

So it's either a dump and you 203k it because no one else wants it thus giving you that opportunity, or it's not a dump and you maybe put a few cheap band-aids on it to make FHA happy and allow you to close, or you do conventional and come in with a substantive down payment.

Friday night we got a call from the listing agent saying that they accepted our offer and we are due to close on March 16th.

I am sure it would be a good networking opportunity for you and an informative Meetup on getting started with house flips.Santa Clara County Real Estate Investing - Residential Investing March 23, 2016

My tenants were signing the lease today and they are moving in March 4th, 2016.  

I would add band around the garage door with a center keystone as well. 

After hearing from her previous (not current) landlord today, I went ahead and approved her.We're having her pay the deposit and pro-rated month of March up front, but feel confident that she has enough funds to cover the 1-year lease on a monthly basis.