Asking 350k 12 unitsScheduled Gross Income: $72,000Vacancy (5%):$3600Effective Gross Income: $68400 Maintenance: $7200 Taxes: $12,600 Insurance: $1,200 Other Expenses: $10,600 Total Expenses: $35,200Net Operating Income: $36,800/12=3066.66350k@8% for 20 years=$2,927.54balance=139.12/12=11.59 per unit not stellar by any means, but in the black.

Operating expenses include taxes, insurance, management, maintenance, vacancy expenses, advertising, utilities paid by the owner (at least during vacancies, rehab, etc), evictions, court costs, entity maintenance, legal fees, common area upkeep, lawn care, snow removal, office supplies, damage done by the tenants (in excess of the deposit), lawsuits, capital expenses (although not technically an operating expense), etc, etc, etc.

and i don't regret it at all. sure it's nice to have made a great profit on my first transaction but i viewed the situation as:1) i can continue to rent...2) ...or own a property paying the same amount of rent and expenses while gaining experience.in both instances my cash flow (i'm going to include the income from my job) would have stayed relatively the same---granted i pay about 200 more due to taxes and insurance. but 200 extra a month was not as important to me as it might be for some one else who has a tighter budget. but since i made the leap definitely feel more confident navigating the entire process over again and also learned how to do some rehabbing on my own (tiling, staining, flooring, light plumbing..etc...)I also now have realistic timelines as to when certain jobs can be completed----at one time i thought I could gut and fix my kitchen and two bathrooms by myself in under 2 weeks only working weekends.

Gathering and verifying all the needed documentation, coordinating additions to insurance, changeovers of utilities or service contracts,etc. and even getting all of the owner's basic info is sometimes a real pain!

In the real world, the new buyer may not pay the taxes and insurance.

I realize that it is for my benefit, but can I not accomplish the same thing that a title company does, other then offer title insurance by conducting my own investigation into the former owners of the note?

Is $5000 too much to ask for an assignment fee for a duplex if my:ARV $81,000Repairs $20,000Purchase Price $13,500 Closing Cost $8,100Estimated Profit $39,400 or Estimated Monthly Rent $1100-$1500Now this doesn't include any holding costs such as mortgage pymts, taxes, insurance, and utilities.

- Were you required to have cash reserves in excess of 2 months (did the loan program require the equivalent of 2 months PITI [principal + interest + taxes + insurance] to be available and in your bank account)?

I currently cash flow $400 after mortgage, taxes and insurance.

There are 2 problems with paying retail and getting excellent terms. 1) You don't have any equity which is the wealth you are trying to build.2) More importantly, that equity is your insurance that you can get out of the deal if you need to.