We like buying personal properties that will become rentals because it is an EASY way to get into the market.If the taxes/insurance are low enough even with an HOA it might make sense.

Okay, first, you can't do a NNN lease on a residence or mobile home in Missouri or anywhere else, taxes, insurance and maintenance are owner's responsibilities.

____________________Final Planning Insurance

Some examples:- House catches fire --> make sure you have proper insurance coverage- House floods --> make sure you have proper insurance coverage- Realize you don't want to be a landlord --> make sure you have researched property management companies in the area in advance- Decide you want to get rid of the property quickly --> did you purchase at a price such that it wouldn't be too hard to sell?

The mortgage, taxes and insurance were pretty reasonable, but still money going out instead of into my pocket.Taking into account these holding costs before I could sell or rent made the deal not so hot.We couldn't do any of the repairs based on the parameters of the loan, making it a deal I'd have to manage pretty closely.

Then you need to know the finance side, finance regulations, collection laws, insurance assignments and under what circumstances you may keep loss proceeds, need to know notices required and foreclosure procedures.

Insurance: $50Monthly Property Tax: $126Price Per SqFt: $143 COMPSMoreno Valley, CA 92555 $175,000311,38906/12/2013 0.04 miMoreno Valley, CA 92555 $140,000311,17504/22/2013 0.06 miMoreno Valley, CA 92555 $255,000311,74005/06/2013 0.08 miMoreno Valley, CA 92555 $210,000412,21005/08/2013 0.14 miMoreno Valley, CA 92555 $174,000311,20705/08/2013 0.14 miMoreno Valley, CA 92555 $340,000432,70308/07/2013 0.15 mi Any other points that Im missing??

Insurance, taxes need to be addressed.

Each unit has a fireplace, and I would like to eventually remove them all for safety, insurance, and space reasons.

They're asking $66k and it's been on the market the better part of a year.Estimated Rent: $700Vacancy: $58 (1 Month/Yr)Taxes: $105Maintenance and Repairs: $105 (15% of rent)Management: $70 (10% of rent, though I'll actually manage it myself)Insurance: $50 (estimated)Tenant will pay utilities.If I assume a 5.25% interest rate, 20% down, and want a 10% Cash on Cash return, the most I could offer is $47k with the seller covering closing costs.