If you use the 2% rule, and went with what most people put under the "Cap Rate" Section of the MLS , you'd need a 24% cap rate for the property.

Some states make the rules harder to follow than others.

We just went past the 90-day mark from purchase.We are getting ready to list the property for sale - our realtor has concerns about transferring now because of resetting the 90-day rule for FHA buyers.

This is very different and not all agents follow the rules.

Using the 40% rule (I manage myself) to find properties that net at least.....$100?????

There are some general rules that I have heard about what to offer but I have had some luck underbidding by as much a 10%.

I'm not trying to break any forum rules.

Yes you will make a little money in the beginning, but what happens when the rules change and the way you were doing it changes and it affects you?

I think you're overly optimistic about your cash flow, but this still looks like a deal.Rent $5600Expenses $2800 (50% rule)NOI $2800Payment $2062 ($310K, 7%, 30 years)Cash Flow $738Cash flow per unit $184That doesn't consider what other units are selling for in the area, or local conditions.

If the borrower does not respond to the court action within a specified amount of time, the county clerk can find the borrower in default and the lender can ask the court to make a final ruling.