Many wolfs in Sheep clothing looking to get a hold of your 30k.

Purchase: 160kFixup: 30kAnnual Interest Payment @ 3.5%: 6650Insurance: 1000Taxes: 5900 (I think there is a good chance I could appeal these down to about 4900 in time)Annual Maintenance Allowance: $2000?  

Ok so I am new to REI but have had a couple things close..all with the help of a JV partner who is a broker/investor them self..I have a website which I advertise my business on craigslist and other places which got me 1 that we wholesaled..and found a vacant property we tracked down the owners daughter to and that one wholesaled and then had a person who sells me leads sell us a probate one and that got wholesaled...my partner does all the work as in paper and title/contract/closing ..all of it..im basically bringing the deals and doin the foot work and im a ghost on contract..we split 50/50 ..the money has been great but im to a point where its not enough for me to make my own moves..so rather than waiting for people to call me im looking for REOs and foreclosures and looking for ones that have big equity gaps and when i find one i want to get it then either wholesale or rehab it and do this a few times taking little chunks of money and saving it until i get a goal of 50k...my problem is the money part..i can use my partners private money who is asking 12%annual interest and the money wants 50% of profits ..which would leave the other 50% for me and my partner to split and id probably stay being a ghost and being quiet OR do I just go get my own hard money loan and break away from him and start taking all the risk...no risk no reward i get it but if i continue to do it the way i been doing it then i'll be little more on easy street until my goal is met.  1 down side is time..i think my partner is treats me more like a option rather than a priority which I understand but I dont get questions and things done as fast as i think they should get handled. what do you guys think?

There are agents out there that do what I do annually on a monthly!

If you made $17,000 in profit in six months, that's a 30.63% return on investment, or annualized, that's 61.26% ROI.

I believe they use annual income when they say 40x, whereas we use monthly income when we use 3x; 3x is 36x when annualized.  

I know for my two units they are both under $500 annually.

YET, the MARKET (not just their shills that are paid thousands to get your dollars) is saying OK, the market rent is $1,000 but it is so sketchy that for the RISK I am only willing to pay you 5 times the annual gross rents.  

Rates start in the 6's and are typically between 10-12% annually.

Overall my first years fees including the online class, test, registration, and Indiana annual dues was approximately $2,000.