$3665 - $2966 = $699/month ($174/door) x 12 months = $8388/yr $8388/$56000 down payment = 15% cash-on-cash return. pretty good. 1 thing you don't mention is how much initial rehab is involved?

If done correctly, there is a lot of work put into arranging commercial financing for a borrower and many years ago, when upfront fees were more common, there was considerable expense involved as well.  

Lot divisions are controlled by county laws and involve fees and surveys and approvals by boards.

I have $120,000 in a fund with a local bank and want to use this money to become more involved in real estate.

Not with 1000s on the market in your area that are distressed.Not sure I'd want to get involved at all since if you buy it at a foreclosure sale, he may still not want to leave the house, or he might push his best buddy for some extra time to stay rent free.

Very easy, and switching identities also effortless as you said.One last question: what are the size and file type requirements for the logo picture?

However Iwas warned that in the even of an eviction, if the tenant has access to owners bank account and the tenant deposits money after eveiction has been filed, it would stop eviction and cost me more money.

Originally posted by John Stevenson:I took the time to run some of your basic information through an appraisal spreadsheet ...John Stevenson - would you mind posting this spreadsheet to the BP file place?

I plan on trying to increase equity in any property I get involved in-I have a construction background and a couple of contractrs I would like to get involved with me if this could become a reality.

Usually it involves a 1% fee and you will have to be underwritten.