basically the current zoning ordinance was established after Chicago was built.

The HOA will attempt, whether lawful or not, to get the new owner to pay the back fees or in order to establish an account.

Sign up with as many as you can eventually you will get them- You need a blackberry or pda so you can answer as soonas they are sent- It is usually sent to many realtors at the same time and the first to accept is the one who gets the job- Once you establish that you are reliable you will get more and more.lauren

NOT USING AN ATTORNEY NOT WELL VERSED IN FORECLOSURE= I have seen hundreds of closings where the buyer was utilizing an attorney or settlement agent who did not understand the concept of Insurable Title, or that Time is of the essence when it comes to deadlines.

Taxes, insurance, debt servicevacancy rate, repairs, mantaince, utility bills ( a vacant unit in Indiananeeds heated in the winter to prevent damage).

Site located right across the street from tourist train depot depositing upward of 50,000 visitors per year.Buidling renovated with new systems about 10 years ago - pretty good condition, etc. 100% leased presentlyRents (6 tenants) - $42840 ann.Expenses - Management - $3500Taxes - $2000Water - $720Insurance - $3500Vacancy $3500 (+/-)Repairs $2500 (tenants responsible for interior maintenance - LL is only shell of building and HVAC systems)No common area utilities - all seperate meteredNOI - $27120 (8.34 CAP) - with zero down.Although it shouldnt matter in the deal eval., seller has agreed to finance $100 K (on a second to close after I do the first mortgage) at 0% interest for 5 years (principal pmts.

No, there are no other establishments of the type already in the area that need to re locate.Any thoughts?

Check rents, leases, bank statements, tax returns, utility bills, or anything else you can get your hands on.

The other negative item to flipping is the larger tax implications, unless you utilize a 1031 exchange each time.

His wife was adamant that the tenants move right away but finally agreed after I established a strict set of rules for the tenants.