Whenever I purchase a property I have an investor in mind, but I also have a backup investor (or two) in mind in case the initial investor is not interested.

His initial goal is to replace his income plus enough to afford his own health insurance.

At an initial glance, this may not seem like the must lucrative deal.

If you paid $300K for the property, then the dwelling structure will have an initial cost basis of $225K in this example.Now, take your cost basis for the dwelling structure and divide that in half.

I'm betting on it and have been stockpiling non-perishable food for about 2 years.

:D Does PA have less initial outlay for real estate agents?

The first initial reaction of someone who see's a URL's (especially easy to remember url's) is to remember them and NOT write them down.

If they ever break the lease or pay late or move early you get to keep their initial down payment.Hope that helped a bit.

Otherwise...I stand by my initial statement of...I have nothing else to prove to anyone.

Quick update: The owner/seller is NOT in foreclosure, He just wants out of the rental business and re-coup his initial investment of $110K.