They expect taking 6 months for the renovation.his is the owners accouting of what he thought income/expenses would run: projected income 36 2 bedrooms x $550/month = 237600 per year minus 8% loss rent 19008 per year total income 218,592 per year projected expenses taxes: 21988 per year insurance: 10000 per year maintenance/supplies: 12000 per year legal/administrative: 3000 per year salaries: 20000 per year Misc. expenses: 10000 per year Reserves: 36000 per year Utilities: 6500 per year Management Fee: 36000 per year Total expenses: 155488 per year Net operating income: 63104 per year think the projected expenses are way high. 36K for management....i thought closer to 5% was normal for this type of project.

.- Free first month is a big problem to compete against and a sign of serious problems with over supply!

We're looking at education costs, initial marketing costs, and supplies costs.

So I have learned some of the above tricks- get some credit lines open, use them (but not over 30% of the limit) and pay regularly.

I also have 3 other buildings with a total of 8 units (all older and in need of regular maintenance).

I was only considering it because I have been in regular contact with the tenants lawyer, who is actually from a good firm (I assume working pro-bono or state funded).

.$1 is probably not going to fly much but I have heard many people like Justin that have said they can get people to regularly agree to $10.$500-1,000 is pretty standard with a bank, and on a retail MLS situation the agent will (rightfully so) try to get that same kind of EMD for their client.If a seller balks at a $10 EMD then you have to decide if the deal is good enough, as in safe enough, that you want to put "real" money on the table.

I don't regularly wholesale but my understanding is that you can use the standard forms and just put the assignable language in it with the buyer name and info.For a double close you should not even need to alter anything.That being said I think that many people will have their own contracts with them written the way they want to have a little more CYA stuff in their.

I have joined a REIA (Lifestyles) not at a the super charge level, just basic.I have read pretty regularly on these boards.

For sale inventory was at about a 1 month supply in May of this year on average for the valley, but has doubled since that time.