Simply put, your not an owner.

Now that will make a significant improvement in your standard of living especially if you intend on keeping the property for a while.Now, I haven’t made a decision as to what type of REI I want to do simply because I have no experience.

I had to cut off the 16% down to 12% to make it fit.

You will find more deed restrictions with short sales than you will with REO properties.With that said, the reason most fail at this type of busines model is that they simply do not understand what a good deal is.

There are monthly assessments which will cut into your profit.

Jeff Sielicky,Simply put, if you are just a landlord and nothing else you won't have to worry about issuing 1099s.

Until I actually purchase I have not bought a house but am simply leasing it?

I simply said "OK, my application only has one question.

Okay the 4 unit buildings when built in 1981 have one meter going in.There is no sub meters.Fulton county water stated that is what the builder requested in 1981.Fast forward to today.Fulton county does not do sub metering for these buildings.The water company stated these buildings only have a 3/4 line meter on one and 1 inch line meter on the others.Water bill has been high.We fixed a bunch of leaks and filed leak adjustments to Fulton county.Water company says they can test meter to make sure it reads right.Previous owner had high readings as well.Some tenants are only supposed to have 2 to 4 people living there on lease.End up having 8 to 10 people and they use the water constantly even with no leaks.Currently we provide water,sewer,trash into the total rent.We have to do it this way because with one line if the 3 tenants pay the bill but one does not the water company will cut off water to the whole building and lien it.Since it is one line into the building even if all leaks are fixed I can't go up to a tenant without proof they are using more water.I can tell tenant with an adjusted lease they are responsible for any usage after 50 bucks a month but they might not pay the difference.My plumber told me of a company that will install individual meters and then bill the tenants directly.Have any of you had experience with these companies?

Simply tell her you were looking for a property and her's poped up, so ask her!