i like the ideas from Bill Syrios with words "save the commission". that was the most profitable

Your down payment is going to be 25%, but your rate should be 5% or less)Length of Mortgage in years 30Monthly Mortgage payment $684.45 Taxes $125.00 Sewer and Water $- (How are you going to split this bill to the tenants?  

or can he not finance more than 80% of the purchase (20k cash + 80k financed) or your "need to get $40k cash" suggests to me the buyer is attempting a 200k purchase (80% financed at $160k cash and $40k all-cash)... though I'm not sure how this fits the bill as a 200k ARV would usually suggest a 140k purchase?

Those simplle paint/carpet and cleaning bills add up when you are turning over tenants!

And it didn't cost him anything, the broker was putting out the money and effort to try and sell it, I sold him a few but never ever took one of his offers list to heart, it would be like trying to sell $20 dollar bills for $40.

So you would have a federal tax bill of $5250.In each tax year, one person can give another a certain amount.  

Their lease is coming up for renewal and I will be billing them for part of this and I am wondering if I should ask them to leave. 

Bill!

I have great credit thanks to the myfico forums and a total credit limit of $14,000 I have no debt and just pay my cell phone bill and the Verizon triple play package bill for my household which totals about $200 a month.

We are dying to jump in with both feet, but want to be smart about it.I've got a great day job and do OK on the side with my voiceover business, but it basically all goes to pay the bills.