Hi all,I'm about to get a little house under contract in LA and already have a buyer lined up for it.

I used every MS Office trick that I knew (and several that I had to google), and after about a week and a half of moving data around, lining up my cells with the pertinent information where it needed to be, and figuring out all the kinks in the system, I finally had the information I needed, all neatly lined up, with different categories for different mailings on different excel sheets "This page is for out-of-state absentee owners of SFR's...

Hey Michael yeah those look pretty bad, but there's good news you've WAY over conservatively estimated which is why everything looks so dismal.You include PITI as a line item expense, but then you add in your 50% rule total (10% management 40% expenses), the 50% accounts for the TI(tax and insurance) portion because that is not really debt service so that is probably a good 10-12% extra you've added to the expenses.Also you calculated your CCR which I assume is your cash on cash return.

Shoot me a line if you ever want to chat about the city.

Hitting $5,000 or more paydays is not that far out of line while investing.

Thanks Scott and Steve.Scott, the listing agents' reply is somewhere along the lines of 'just trust me' and that's why I want to know if there is a way to put it on paper.Steve, this is a short sale ( Nation Star - 1st /BOA - 2nd).

Our goals include wholesaling, lease-options, subject-to - along those lines.

VRM is just starting to list properties but any offers for these will have to be outside financed or cash until such time as vendee comes on line.

We would still need a loan (looking for a guidance line with a local bank) to help fund purchase and construction costs.

I don't think it is right to split the profit 50/50 and him be on the line with the loan.