The training will help a lot as it will keep you focused on the numbers.The rules here on BP:2% of purchase price for the rent.50% of the gross scheduled income to cover the running costs before debt service.If you find deals that fit the above you can afford to hold them as rentals.John Corey

I called Stan and scheduled to meet him at the house for an estimate...

We all have our preferences.I absolutely agree that the hunt for a great deal is the most important thing involved but whether or not a property loses a bit of money in rent over a 10 year period due to vacancy or broken windows or whatever, I tend to think that in the longrun it will always pay the best return especially if you keep your books clean and run a tight ship.So good luck with your rental and your home and hope to hear back from you as well.

The last trustee's sale that I had performed for me (I'm a lender in TX) cost me about $1200 or so, plus my lost interest, late charges and my fix-up and reselling costs (another $12K).My attorney cuts me a pretty tight fee for handling these for me, more than I could do it myself for, less than the bank's attorney (generally a brother in law deal) charges them.

We had no warranty, or anything, so I assume it's up to me to do it since we're buying the house, but thought I'd ask for feedback from anyone willing to help.Money's tight right now with 2 house pmts and Christmas for 4 kids, so this couldn't have happened at a worse time for us.Thanks in advance for any help you can provide.Sincerely,Andy in Indiana

Doing the actual work (on schedule/budget) shouldn't be a problem, since I'm a contractor - and I have a lot of resources in that area.My biggest concern is the re-sale.

My finances have slowly deteriorated to a point where things are pretty tight right now.

But its not worth my time to schedule it it in, or take on the risk of having to chase the customer for my money.

Part of your learning will include how to be a real tight a...:-)

This creates a tight spot for short sellers.This is an actual scenario with the names changed to protect the guilty.