Just like in a retail business when you sell a pair of jeans you report the income on that pair of jeans based on what you paid for that pair of jeans.

Don't discard a strategy based on 1-2 months of no responses.

@Katie Stewart I have taken everyone's advice into consideration, and I've come to the conclusion that I will charge a monthly pet fee with the rent.

Hello Ray, The base of the flowerbed and the neighbor's kitchen are on the same level.

Probably not, considering that 10 years ago it was the worse economic crisis in at least 70 years since the Great Depression.BUT, if those who did not understand that it was a FANTASTIC time to invest once the crisis was over, even if the same thing occurs, their risk intolerance will probably steer them to the investments that won't appreciate the most, and that is unfortunate.This is really about education in the long run.People have to add to their inventory of skill sets for an investor the ability to calculate and understand appreciation and other future values.It's the only way to get used to the psychology that things change in the future and where you buy can either capture that change if it's good, or avoid it if it is not.I just can't believe people make a decision on an Investment based on one single calculation for today, usually the Cash on Cash Return, and then completely ignore all future economics.That's like the squirrel that doesn't bother saving his nuts for the winter because he has a lot around in the fall when they dropped off the trees.Good thing squirrels can think about the future value of saving his nuts!

Don't make your decision based on the assumption that appreciation will continue. 

View report*This link comes directly from our calculators, based on information input by the member who posted.Asking 300,000 but put in an offer for 170K counter back at 200K which was the number I was shooting for.

.#5 Make Decisions Based on the NumbersYour real estate investing strategy should include the financial parameters by which you determine if a property is worth purchasing.Your strategy may include details about: Purchase price range.Investment cash needed for repairs and upgrades before leasing to tenants.Financing strategy for the short and long terms.Bargain purchase (the percent under fair market value a property must be purchased).Immediate value increase (the percent in increased value you expect after making initial repairs and upgrades).Geographic area.Net income.Cash flow.Net cap rate (annual net income/total value).When you find a potential investment property that fits within the guidelines of your real estate investment strategy, you can pull the trigger based on the numbers rather than emotions and personal preferences.#6 Don’t Buy from Unmotivated SellersMotivated sellers are usually willing to work with buyers, so focusing on finding motivated sellers can result in making great deals as a real estate investor.

While you are looking for numbers, we are locking up deals based on what the market demands.

I've been reading up on a lot of the other posts but still have no conclusive answer.The property I have obtained is a 3 bedroom 1.5 bath hoping to rent it out for $1,200 a month so what type of clauses are typically set for this type of property?