Taxes and insurance run $1100/yr.Rent goes for $525 and should be ready in mid May.

Only taxes and insurance.

There are many more expenses than just the taxes and insurance that are usually included in your payment.

Such as his insurance number and others that he has done business with.This way he holds all the money in his escrow account and can not release it unless it has been authorized by you.These are the kinds of situations that make people sour and untrustworthy of the legitimate investors.I am truly sorry to hear what has happened to many of you, but chalk it up to the cost of doing business.Douglas

I don't think there is any cypress available here.I would not put wood shingle on a roof because of the fire risk, and I'd sure check with my insurance agent before I did the entire outside of a house with wood shingle.You can't hardly get insurance for a house with a shake roof, and I'd want some reassurance that there wasn't going to be a problem over the siding.There is a fire resistant manufactured siding that looks like wood shingles.

What this will do obviously is get our house off the books as the rent will cover the mortgage, taxes and insurance for the 6 months, then at the end of the 6 months when he gets back they will supposedly buy the house.What flaws do some of you more seasoned investors see in this.

He was responsible for taxes and insurance and first stopped making insurance payments.

Expenses include the taxes and insurance, which is often included in the payment.

The second part (TI) is calculated by taking the homeowners insurance premium which is paid once per year and the property tax which is also paid once per year (through it can be a little more complicated, see below) and dividing by 12.

If you read elsewhere here (and you should) you'll find the "50% rule" that says expenses (taxes, insurance, utilities, HOA fees, vacancy, advertising, etc.) will eat up 50% of the rent.