On the high end of your estimation, your $350k in equity is earning you $3600 a year, or about 1% Return.

We were supposed to close tomorrow, but the lender called last minute and said our business tax return transcript came back rejected.

Incredible returns, no rehab or maintenance needed, and you can buy/sell all over the country.

Cash out of pocket $15,000, Purchase price $89,000, rehab $23,000, ARV $135,000, capital gain $12,000, 80% return on capital gains, monthly cash flow $463, 37% cash on cash return, total return for year 1 without appreciation: 125%.

If you are just looking for a passive way to park some money while earning a hefty return and quadrupling your investment in 30 years go the turnkey route. 

What that means is that if my modified adjusted gross income (AGI) on my tax return is less than $150k I can deduct some or all of the losses up to $25k.

@Ross MusilCongratulations on your first propertyYou and your partner will be required to file a partnership return.

,  I spoke to auction.com agent and explained I do not want to proceed with the deal and I understand it is as-is, but I apologize for change of mind, and did request for return of EMD.   

How good is their returner?

Because of this my short term summer returns rival the winter returns.