There's no reason you should receive a call in the middle of the night.

Our experience was the extra cost of the coin-op machines, the utilities consumed and the damage/abuse they received pretty much consumed any revenue generated.

Now he's working in construction in ND and makes $100,000+ annually but has a TERRIBLE credit score.

Good thing you stumbled as you can see you already have received assistance.

It comes very close to the 24% gross annual return (2% guideline) using the higher repair and lower rent figures.The 50% guideline you brought up is to make an owner aware that 50% of those gross rents you collect each month will flow back out in the form of various expenses (taxes, property management, repairs, replacements, legal, vacancy).

A normal monthly mortgage has 12 annual payments.

You can even get into some duplexes to to increase the number of units purchased to help you "move faster".As far as increasing your annual income to purchase more property sooner, you may want to consider starting small business of some sort on the side to supplement your regular income.

At 65% occupancy, with 10% down ($65,000 owner financed at closing - no cash out of pocket), and 90% mortgaged through SBA and bank ($585,000), $7,800/taxes, and $5,000 in misc. expenses/annually.

The last offer I made on a home here received 20 offers in the first 2 days.

I'll try to keep this brief and to the point.i received a call from (what I thought was) a home owner (out of state) of several properties that he was looking to sell.