I understand basics such as cap rates and dscr but I want to put myself into position 2-3 years from now to start acquiring properties when my cash flow permits.

Contract law is subject to varying default rules depending on the body of law that governs the contract.

I'm in a different position so I try to put it in perspective.I did go overboard on my finishes in my condo but I was rehabbing it for me, not as a potential rental property.

If its positive, add it to the total income.

On a positive note: The HUD house is not in a particularly bad neighborhood.

Journal is indeed positive, is it too premature?

I have overseen over 1,200 units as a commission of a large PHA and I cut costs and overhead and had some significant maintenance/improvements made, hired an attorney on staff, acquired other properties for expansions and brought the PHA to a well performing rating, don't get me wrong as if I'm taking all the credit, there was a great staff and excutive director that I put in there that was amazing and they get the credit, but I stepped into that appointed position and had never owned 100 apartment units at one time!

That being said, if in your position, with a friend that has money making them 1% or -% in the market, I would work out a simple deal where they could invest the capital and earn simple interest between 5-10% on a loan amortized over 30 years, with a balloon due in 5 or 10 years, or as far out as they will go.

To answer your question James I would like to start with wholesaling because I feel that is the most feasible way for me to get started and have positive return.

Hi Everyone, I am now in a position where I can purchase a property.