NO stove or bathroom sink.

In today’s market, I have friends who have been trying to sell their house for years with no success (true and they won’t lower the price to reality).

Since the rest of the world is sinking too, it is probably the best time in history to fire up the presses, as it will not create near the pressure on the dollar as if other parts of the world were doing well.

Mark,Here's how I see this deal:Gross rents (at $325 and $250): $6,100Operating Expenses: $3,050NOI: $3,050Mortgage ($160K, 30 yr, 7%): $1065Cash Flow: $1,985 or $104 per unit per month (good)Now, back to reality.

Probably more, in reality, since you're tenants for a 1 or 2BR apt aren't going to be as good as for a 3 or 4 BR house (gross generalization there).

If the bureaucrats in DC will wake up and smell reality maybe they can finally do something about this.You see people are screaming at them on solutions to solve this problem but the suits have their headphones on and aren't listening.

I could sell it outright and pay the taxes next April, but get out of the market which may sink through 2011, or I could take that money and reinvest it (perhaps with leverage) in a commercial property that I could never afford in 5 years, with immediate tenants.My current situation is ok, but I'd like to do something smart short-term and long-term, which may be something of a conflict.Thanks,Roy

They invent gibberish to try to dazzle newbies, when in reality there is NOTHING new in real estate investing.

Stuff gets into the insulation under the house and can be smelled inside the house.Treat the cabinets under the sinks with bleach.

Thanks Guys for the Welcome....I look forward to learning and also excited to work toward making a dream a reality.