My grandfather and father also have long histories of the same.May I recommend furthering your knowledge of the business by recommending an excellent book "Invest in Debt".

You had to have excellent credit to do Conventional loans so we steered away from them because the compitetion was to great.

Anyhow, I tinkered around with Excel and put one together.It requires you to put your own Insurance, Principal and Interest in but will multiply it by the months you want to hold the place.I also found a Loan amortization tool that I pasted in there so you can get a quick idea of your P&I for the Buy and Hold sheet.Let me know what you guys think.

Tim, that is an excellent idea.

That one item gives you quite a bit of wiggle room.Making $23,000 on a deal like this would be excellent.

Rob,Western Pennsylvania and western NY (away from the coast) have excellent rentals that will cash flow nicely, SFHs, duplexes, triplexes, quads, and apartment buildings will all cash flow if bought right.Good Luck,Mike

They do excellent educational  Zoom webinars - I participated in one today.

Both are excellent. 

(side note: they have been excellent tenants, paying on time, no complaints).Here are some scenarios I've come up with:1) Assuming they can get financing, I sell them the house in Jan and walk away with 10-20k in profit.

The Sumner County Association of Realtors offers real estate licensing classes at its location on Executive Park Drive in Hendersonville.That would be a really excellent place to start.