.) - 75 Expenses $820 (I did not include utilities because normally tenants pay for that, but find out what is common in your area.Net Operating Income NOI (Income - Expenses) = $680Cash Flow: $680 - $1134 debt service = -454 You will not cash flow on this property, even if you get $1600 for rent and self manage, so this option is a no go.

I can't believe that the OP with the title of "Residential Real Estate Agent" posted this topic; that is something I thought that every agent training course covered ...

Buying discounted notes would get you there and be more sustainable, again, UNLESS you build and operate a hard money lending business (which can be sustainable), but less passive.

I think I'll look into the training required and see if any local brokers are interested in letting me in.

This is a pretty big, "they don't know what they are talking about" mark in my book and I discount their entire operation to null because of it.

Train the tenant in the beginning that you mean business, otherwise they will train you.

Hi BP family, Question: Is seminar/guru/mentor training tax deductible?..

As you mentioned in your last sentence just submit an offer subject to an inspection of entire complex or even full blown building inspection.I wouldn't be buying anything site unseen especially not a multifamily.10 units you inspect out of 20 could be great but the other 10 could be a complete train wreck haha.Thanks

Another is the management, typically provided by an operating company, frequently a franchisee.

@John K.Our lease (actually the schedule 'A' to our lease) identifies the tenant is responsible for any by-law infraction fines assessed as a consequence of their failure to fulfill their obligations and responsibilities (put out garbage, clear snow, or mow the lawn, having non-operable vehicles on the property, etc).When we receive such a fine from the City, we pay it and then send the the tenant a letter and invoice for the amount of the fine, plus an administrative fee to cover our bookkeepers time to issue and collect the invoice {though we typically waive the administration fee on first offences}.