His wife preceded him in death and they had no children.His sister and her family lived in the home off and on until it basically became unliveable several years ago.

This needs to happen WITHIN 4 years - basically by the end of 4 years, the $4000/mo cashflow should be consistent.

The surrounding area is being developed with a number of large residential projects and is about to see a massive influx of money from the owner of the Jaguars. 

My partner and I were at the house every day doing work ourselves to learn the process remodeling a home and save some money on basic handyman labor.

Basically, I believe you could technically add 15-20% more on the price for every interest rate point you are less than the current.

@Mark ScottExcel is great to track income/expenses; especially if you know how to use the basic formulas.

The PM then and there gave the tenant all of my contact info and basically told me I would need to finish the eviction process. 

My question is : why are you buying an investment property if you dont have the most basic understanding of how it works?

Bathroom gutted and basic remodeled in one unit.

I currently have a W-2 job in IT that I pretty much hate and a family that I love, which is why I keep going to said job  ;)I basically want to do REI because I have had enough of the rat race and having to worry all the time about where my money is coming in and how safe is my job.