Anyway, so you're referring to the old brownstones for example on Lake Shore Dr. with 2 and 3 bds that people are renting?

One good example I can think of when weighing the reason one goes into business: I have always noticed that in the residential real estate field, Agents who work very hard for buyers and sellers, seemingly without regard for the money, but who focus on providing service to their clients, also seem to make the most money.

Any ideas/samples/examples?

In this day and time you're really happy that you've got a track record and a relationship with such an institution because the financing for investors can shut down rapidly--for example, the new requirement under Freddie Mac that you can only have 3 mortgaged properties plus the one you're finanacing.

For example, I have a couple of $60,000 (market value) houses with annual taxes of only $350 (good deal) and I have other $60,000 houses with annual taxes of $800 (ouch!).

At least more then the average fresh out of high school, no college experience 18 year old.

Pretty much everything other than the building its self.The example I was given was a 150k condo depreciated about 40k in various items.Has anyone out there ever done this?

For example, Are you interested in a property in a particular city?

One example.

In your example, the principle for the first year would be about $1195.