I am going to talk to my lawyer as well but I figured I would get some free legal advice from the experienced rehabbers first.

In my case, not even figuring any Appreciation (which has historically been about 3-4% over 50 years here) we project about a 15%-18% return.

Either it's priced way too high, your rent figures are wrong, or it's in a neighborhood you don't want to be in!

I'm due to touch base with my broker next week to figure out more about whats out there but thought the wiser heads on here could give me some insight before I talk to him.I purchased a quadplex at the beginning of November via conventional 30 year loan.

Running #'s below based upon that figure.$280K$56K downP&I: $1200.00$2700 Total Rents - 50% rule = $1350.00 - $1200P&I = $150We've also broken the 50% rule down further with what we believe to be more accurate numbers:TAXES: $279INSURANCE: $279 (This is estimate as I wait to hear back from ins. agent)VACANCY 10%: $270REPAIRS/CAP EXP: $162PROP MANAGEMENT 10%: $270 (We'd be managing but have this built in for the future in case we didn't want to manage)Total: $1260.00$1260 + $1200 P&I = $2460.00Total Rent: $2700-$2460 = $240 cash flow.CAP RATE 6%GRM 12CASH on CASH 5%We realize that this isn't a great performer overall.

I'm not affiliated with any seminar, guru etc and if I were you, figure out what niche you want to learn about then Google it and search for it in this forum.

I figured that was my next step to call the water dept.

My suggestion: focus on local areas, learn them well, and figure out how to profit from future appreciation.

I started sending out DM and added websites to capture leads.Now I'm in a very hot market here in South Florida, so my results are going differ greatly from other markets (except for maybe San Antonio and So Cal).I'd also like to post my DM results for the past year here, but being new (and not 12 years only) I can't figure it out.

Hi Gary, if the pump failed on it's own I would pay the increased energy bill.I don't know where Your from but in Wisconsin the electric/gas bills have a "Degree Days" number on the back of the bill, this number would make it easy to figure the actual increase in fuel used for the month in question this year, and the same month last year, when the pump was working.