He can't even afford to list the home with a realtor because he doesn't have enough equity in the property to even cover the 6% - 7% commission he would have to pay a real estate agent.Now the Seller's new home is finished, ready to be moved into and he needs to close on it.

If you are going to market independently, you need to cover the following bases at a minimum (listed in order of importance): a.

It is usually caused by paying too much for a rental and therefore having insufficient cash flow to cover expenses.

I immediately bought the book and read it cover to cover and also bought Your Money or Your Life that I'm only about 40 pages into.

Only covered health expenses count toward your deductible.

Like I said the rent will cover mortgage/tax/ins. + 10%.

I hear most people say work a lease like it was the tennants own house, they cover their own maintenance and everything.

But it sounds like it over emphasizes appreciation over cash flow when both are important.Another thing that positive cash flow lets you do is immediately go out and look for another property to buy because your not using your salary from your day job to cover the negative cash flow on the other property.

We made an offer and the sellers accepted our offer of 335K but the banks will not come to an agreement on how to break up the amount we are offering to cover their debts.I understand that the first bank has collection rights and the second bank only can recoup what is left.

I would never get into something until all of my ducks are in a row...meaning that I have already established a solid network of investors waiting for my deals (which I have), and having a custom Purchase Agreement with enough contingencies to cover me whether I cannot find an invester to assign my contract to (this is the worse case scenerio)...if it were completely impossible for me to assign my contract, my agreement allows for me to walk away from the deal without any risk to me (although this is not fair to the seller).