My latest buy, I paid 50k at tax auction and its worth about 95k with a fresh coat of paint.

With only 1 revenue stream and hefty operating costs, this could easily end up eating you alive.

If there was a way to get 10% return safely and passively EVERYONE would be doing it right now, which would most likely eat up the supply of that investment and lower the returns.

This Forum has kept me from eating all morning, i've been reading for hours.

All three of us are smokers, so a balcony is very important for us to have fresh air and to smoke on the balcony.

The maintenance issues are common and you just have to eat up the cost.

Also, if i buy a duplex/tri/ etc, i will have no way of managing it myself and i will have to rely on a management company which will eat a big chunk of the profit.

This happened even when there had been damage to the property between the time of listing and my bid.Fast forward to last week - they dropped it to $15K, at which point I put in my 11K offer again, and am waiting to hear back.I was told by my agent that, at least around here, the REOs won't go for a huge cut of what's listed; instead, they seem content to eat the holding costs and wait for someone to bite closer to the ever dropping listed price.You may have to wait to pick it up at your price point.

They offer you a low rate now and can mean high cash flows initially, but once that rate goes up, it will eat at your cash flows quickly and have a devastating effect on your Return on Investment.

So right off the top that will be an extra 40k to 50k total for the 2 managers not including hourly staff.BBQ unless in a state where it is eaten heavily you will patrons only eat it maybe once every few weeks if you are lucky.