It's beyond the scope of my skills to value it based on development (thus the post) so it's a bit tough to tell him confidently how much more it will potentially be worth after appraisal.Bill Gulley - Thanks I will check out your other post.

Again, you should be able to get actuals from the water co.I would agree with Jon W on upping the mgmt and vacancy.If the gross rents are right (get this proved), and you assume closer to 60% expenses (more reasonable) then she's asking a 7.5 cap rate.

We never mentioned about it and never was part of lease agreement.2) tenant never paid on time3) Every month i had some sort of repair cost4) Within 6 months replaced the Dishwasher and microwave5) tenant broke the lease without paying rent for 2 months and left the house in awful conditionI had to pay all the expenses out of my pocket.My husband, it was previous tenants who were bad we should give 1 more chance to property managers:Now renters are in the house:1) I already received an expense of 190, they have not even stayed in this house for 1 month.when you Property managers why all these repair charges, the start telling you all legal terms that the expense is less than $350, they can do it without asking us. they are telling they are not using cheap material from walmart. also mentioned I was living in a house half things were not working and they had to fix it. they are harassing us.they are total crooks, I can prove these $190 expenses I am paying should come out of tenant expense.I want to do legal case against them, please let me know how to proceed as I am tired of them.

This was a tough concept to swallow when I first started.

Typical split is 50/50.Tough to get started, though, if you've never done it and have no cash of your own.

I was a school counselor but am now self employed so proving income is also a challenge.

Where you can prove the property is worth much less than the amount of the mortgage and the Trustee crams down the mortgage to match the current value.

I think you will just need to approach the banks and find out what you can do but really with less than a year will be tough unless you can show major Cap Ex improvements.Keep us posted as I would love to do this as well.

Hi Kit, Cary is a tough area as its a very hot market, you might want to check out Durham - prices are much lower and there are a higher percentage of renters than in Cary.

think i have done well so far, but i am not sure how to prove it.