That's because you want to have enough profit margin to make the deal and risk worthwhile, as well as have enough equity for quick exit strategies, such as selling the property for 85% of its value to move it quick in an emergency.Your payments will largely depend upon the price you pay, your credit and the interest rate you're able to receive, the taxes for that specific area and how much your insurance costs.

I know these properties once Rehabed, will bring lots of profit.

Getting started being a bird dog is the best way to get your feet wet, and can be profitable if you build it into a system.

And actually would have come out pretty good (probably about $15k to $20k profit).

ok cool I love my mom and my parents - and since my mom is a real estate agent I didnt want to work with her as personal feeling or other things might get in between my ideas and purchases, so anywaysmy mom was explaining to me that since I am renting now I should be buying a house with a multi family and rent the upstairs floor, this will save me lots of money, this makes sense, since I do still work and do real estate investing on the weekendsbut I am still within my lease and can not get out (I can just lose my deposit and pay another fee) I was thinkin of gettin a multi family and renting both out with a pretty good ROI - this will profit me some money in my pocket though it will not be big atleast there is still cash in my pocket.What do you think I should do find a property and live in it and lose my deposit or stayin renting until the lease is up and currently get a investment property?

That leaves $1,545 per month with which to pay the mortgage and for any profit.

The 30% equity spread that Jim was outlining will cover all your expenses and profit margin NOT including repairs.

Is it a non-profit?

i know the hunt for a profitable property is the hard part but i think we just need some guidence on where to look!?!?!

Also, I know that due diligence is extremely important in finding a deal that will be profitable.