I have heard lot of experienced investors spew out a statistic that out of every 10 offers only 1 will get accepted.

At these number you don't have good guaranteed exit strategies, and risk being stuck with a negative cash flow house if you don't want to live there.

If its negative, it adds to your debt.

So, I am still negative net worth, but it went less negative by right at about 40 percent.

You will have a negative cash flow and you will join the vast majority of newbies that fail unless you have a big pile of money to cover your monthly losses.Let's look at your suggested deal, $80K purchase price and $800 rent:Gross rent: $800Operating Expenses: $400NOI: $400Mortgage payment ($80K, 30 yr, 7%): $532Monthly cash flow: $132 LOSS (OUCH!!!)

I don't look negatively on anyone making an honest living, but much of the problems with GM came from the greed of the UAW and GM management.

our social welfare system is off the charts in a negative manner.. enabling generational poverty.. its the break down of the family unit and it more pronounced in certain situations in the US.Along with folks that abuse animals as a way of life I have seen that in the Deep south its sickening and therefor your not going to get much sympathy pitting animal lovers against taking care of folks who should have family helping them.

Oftentimes in the written agent feedback, buyer agents will not want to be negative, so it is worth having your Realtor call the buyer agents in order to gather more candid feedback.

If you buy in Toronto, over time you will be ok but you'd have to financially be able to withstand negative cashflow for the first few years at least.

@Edward Zachary SamperioEven if it could be done, this post scares me as what do you have for reserves to pay for any maintenance / rehab / negative cash flow and cover the loan?