Hey folks,I'm still in the early stages of finding my first investment  (getting a few pre-approvals, saving $ and reading everything I get my hands on)My question is probably a silly one, but... am I right to question a listing that sits on the MLS for any more than 30 days in the metro area?

If I did have a large wad of cash sitting around, this property would look like a much better investment, even at $150K purchase price - the monthly cash flow would be around $950, ROI around 7.5%.

Our hourly income is so high that I could never even consider working for anyone else (since I dropped out of college and lack the engineering/accounting/medical degree I'd need to make more from a job).When I started the business, I had imagined I could grow to several trucks run by lower paid guys, sit back, and enjoy a passive income.

The seller has just been letting it sit at her fax machine, waiting for the escrow officer he is comfortable with to return.

Buy a house, rent it out, sit back and get some cash?

If the zoning has changed (setbacks, density, etc) then you will be able to put back the same size structure that currently sits there because it's grandfathered in.

Its mid rehab and there are new cabinets, fixtures etc sitting in boxes that i dont want them packing up and taking right before we close the deal

I seem to recall I paid for your eggs  LOL...I know I break the internet social rules because I really don't know the rules and frankly could care less.this is interesting to read how polarized the responses are.. 

Vacation rental is interesting to me, but the fact that it may sit empty for a good portion of the year, and that a property management company would most likely be involved and take a big chunk of the rental income, makes this a less appealing prospect.A little background on me....been living in the greater Denver area for 13 years and managed two rental condos for a family member for a few years here. 

Go to the housing court , take part of a day and sit thru a morning session so your familiar with how the housing court process is done.4. you can file the action yourself and it's nothing to be afraid of if you have a good idea of what you need to do and visiting the housing court will make you prepared.5.