Cash on cash return (annual income / money down) should be 35% or more and cost per unit (for 1-2 bed units) should be $50,000 or lower.He doesn't recommend using the 1% rule because you'll need a higher down payment to make it cash flow.Hope that helps.Be aware that These numbers may not apply much to today's days,35% cash on cash is almost impossible to achieve, you would need to get 1,400 in net monthly rent on a 250k property.

@Spencer OBrienLicensed agents need to work under a designated broker (firm) for three years before they can apply for their Managing Brokers license.

The full depreciation for a 6000 lb. vehicle applies to used as well according to my accountant.

I just had one apply who told me all the things I was doing wrong.

Clearly explain your plan and time frame for getting back on your feet - the property repairs, rent increases, evicting the bad tenant, wife applying for new jobs, etc.What is your equity position on your current home?

This same idea also applies to whether the first mortgagee has a duty to accept payments on the obligation since the paying party (you) is not a party to the mortgage contract they hold.

I guess I'm just not egotistical enough.I'm using taxation as an example, I'm not picking on anyone, this could apply to a stock broker or insurance agent or a real estate broker.

Regular shots, and checkups indicates a responsible pet owner and since HIPPA laws do not apply to animals, the vet can speak frankly of the temperament of the animal simply add this step to your standard screening processes.

now you have to take everyone's advice here and decide and apply what works best for you - the first step in any successful entrepreneur's life.

Keep in mind that a lot of the rules of thumb you read on BP will not apply in Norfolk.