:) I'm pretty exciting to get started on these projects and looking forward to seeing everyone soon.

Because most of these searches were for large, multi-million dollar projects with often complicated legal issues, I essentially got paid to just go over all the documents line by line and flag any issues.

Overall after $7500-10k in fix-up expenses I expect that I'll be able to cashflow on the property while living there for free (PITI = $1400/mo, projected avg monthly income w/ vacancy = $2,100).The plan is to continue fixing it up for the next 1-2 years then rent it out in full (either still by the room appointing a roommate as a PM or just rent the whole house).

We just broke ground last week and I will update numbers and more pics as the project comes along but we are really excited to start our new venture and am hoping for the best.

Brooks, I would like to use another FHA/203k loan to buy my new home (project) at my new location.

Well, actually I guess there is -- anywhere from about 30 minutes to about 30 hours, depending on the details of your trip...Likewise with rehabbing -- it should take you anywhere from about a day to about a year, depending on the details of your project...And much like flying, the goal is to get from point A to point B in as little time as possible, without crashing and burning...

I always offered to help them any way I can and made sure I found a way to return the favor if it's by referring them, clients, helping them with their own projects or whatever I felt was a good way to thank them.I also have paid coaches and I have two different one at all times that help me brainstorm my Business Plans, the skills I want to continue to acquire, and discussing all the problems coming up.Remember you have to think out of the box, find the people you want to get mentored by, find a way to help them first and they will teach you everything you want to learn. 

You may want to spend those dollars on some other project besides the siding that you were planning to do next year and do that project in this calendar year, or to minimize the income you could buy the siding this year and store it until your contractor is ready.Property #2 - If your contractor is okay with it, you should swap him a check for a check.

Are you projecting you’ll be making much more than 25k a year in the near future?

The NOI is $21,500 and expenses are $15,000 with a projected gross income of 40K.