Hopefully the rent will make it so that the deal is good through and through.I could find enough deals for that price where I live that I would jump right on that financing and still have positive cash flow.

The landlord is ready to sign.Angel, if you put the property under contract you are in a better position to negotiate with a potential new owner than if your landlord sells without your involvement.

Perhaps it would be more honest to come to this realization and instead enjoy an extended weekend in Vegas burning the money on loose women, high stakes poker and your mind altering substance of choice.

No matter your position on gold there is no arguing its price is high in recent history.

They won't have the same appreciation as single families but it is far easier to generate positive cash flow while still paying a mortgage.

He (or she) would be in the best position to advise you since an S-election is based on tax, and not legal, issues.

As someone who just completed your first deal, you're in a great position to share the details while they are fresh.

At that point, I think I will move to California and pay you to be my mentor.I think I understand your investment strategy of purchasing a cash flow positive property with possibility of HUGE appreciation upside.

How long did it take to get a positive response from the bank?

Just a quick point... the 50% NOI calculation includes vacancy.Numbers seem solid and I agree with your cap expenditures though based on what I have read you would probably want to create an escrow/savings account as those expenses will come and that would put you in great position to deal with them.Not sure what the whole side deal is with your brother but the numbers seem to add up.