In fact, I’m glad we had him, because him being from Georgia, he felt compelled to give us some extra tidbits.

A hydrologist had to survey elevations and calculate water flow from upstream in a report he compiled and submitted to FEMA.

I am getting the feeling that most full time guys are flippers and that the buy and hold portion is just some extra gravy.

Once you understand it, you will be better educated to perform the strategy.How to make offers for your buy and hold - For quick calculations, if the rent value is $1000 monthly, you can afford to pay $50,000 (2%) for that rental (including acquisition and any needed upfront repairs to get it to renting condition initially).

The all others is critical and covers everyone known or unknown to reside in the property.This way someone living in their cannot say the eviction says so and so but not me so you can't make me leave.Front and back lock sets cost me 28 dollars for the set with deadbolt and we put those on the second we finish with the writ or the tenant voluntarily hands over the keys and it is vacant without filing eviction.We do this because sometimes even if tenants leave on their own they have an extra key they don't give and then when where they move to doesn't work out or have enough storage they start putting junk back into the apartment they vacated or try to squat there one day and then another place another day.Sometimes in apartments tenants will hop from one apartment where they are evicted to staying with the unit next door that is paying.After awhile say a week or so the good deed wears off and that tenant wants the people gone from their unit.Was the power in the husbands name??

If you consider it you should require they pay 4 months in advance.This will cover them paying the first months rent,time to immediately evict them if they violate a provision in the lease,and cover paint and carpet again.If they violate the lease for any reason all the money paid upfront is NON-REFUNDABLE.Don't just stick a tenant in there to put one in.Make them meet extra security demands or wait on a better tenant to come along.You have to make a tenant like that have a bunch of "skin" in the game.They may or may not have reformed themselves and if they have they should not mind putting extra down.

I've never paid extra for any of the specialty items you mentioned you have done.

I know other family members who work a regular JOB.Their mindset is put money in savings in case of a medical illness or rainy day fund.Take 1 or 2 trips a year with vacation and that's all they aspire to be.They look at me and what I do and think "I am lucky" or "I have it good" that I have my own business.They think I sit at home in my office all day and do nothing.They do not realize I am putting in way more hours than they could imagine.I am sacrificing now so that down the road as I get older (36 now) I can take it more easy.Meanwhile many of these (savers) will be working as a greeter at Wal-mart at age 70 and complaining about social security not being enough.I am not going to be one of those statistics.A family member that is 68 has their house paid off,car paid off,and with social security still lives hand to mouth.I try to explain they need to grow that money to stay solvent but FEAR is what grips them from making a move.Whatever everyone believes we know we are born and in a certain amount of time we die.Where we go after that is up to each person to decide.So you do not have time to let FEAR keep you from making rational decisions and not living life.There is risk in everything.Successful people taker calculated risks and on average win more times than they lose.I guess I would be 4 and 5 since I have my own money but also buy property using owner financed deals.

In terms of eventual resale (it would be a rental at first, if I buy it), is adding an extra bathroom or half bath necessary?

The gas dryers are more expensive to purchase in the first place, and aren't even in stock so a few days of extra lead time is needed to buy (assuming you buy new - I did that for the house I live in).Why can't you just have a 220V/240V line run into the area where the dryer would sit, so that an electric dryer could be used?