I'm in my 30's and my long term goal is buy homes over the next 20 to 30 years, turn them into rentals and hopefully have enough homes that can position me to be a good place financially when I retire (I also invest in Roth IRA's, so I diversify a bit).I'm totally new to all of this and I'm wanting to find a community of others that have done this (or trying to do this) to get your insight.

Property consists of 7 buildings in a 10 building complex, mix of 1,2,3, and 4 bd units, 4 5plexs and 3 4plexs for 32 units total.

Sounds like the estimate from them is based on closing on the 15th, so if another date is used then the numbers will fluctuate.The unknowns are unknown, otherwise the things would be known and itemized on the estimate.Now, if the lender will be escrowing taxes and insurance, then the determination of the disbursement schedule and resulting "low water" escrow balance (1/6 of annual total due to be paid into escrow) tends to move a bit when the settlement date moves.

Those PRO areas are the areas where you can solicit business, partners, financing, deals as well as the places you can promote your business, deals, financing, offers, and so on.The FREE Q&A areas allow you to ask any real estate related question as long as you're not soliciting, advertising, or promoting.That said, the $5/month for our PRO Basic account is a pretty good deal considering the average post in our Dealmaking and Marketplace areas sees hundreds to thousands of views.The total tally of free to PRO forums is:58 FREE Q&A forums / 12 Marketing & Advertising forums (PRO) / hundreds of free Group forumsI hope that clears things up for you.Here's the complete forum list.

This is not taxable income.If it is on a rental property than he needs to spend the total 13k replacing the property within 2 years of the year the insurance paid.So if the property burned December 31st, 2010.

So, if the liens total more than what you feel the property's value is to you, then just move on to the next property.There is much info already posted on BP forums on "subject to" - but usually the questions pertained to taking on just mortgages.

About 15% total, or 13% is the payroll tax cut does end up getting extended.Track your expenses and be able to document them and they are deductible.

Wow,So in this scnario Kyle for the bank it is a total loss or write off?

Asking Price: $154,000Purchase Price: $115,000Down Payment: $23,000Improvements: $5,000Closing Costs: $2,300 (2%)Total Cost: $122,300Cash Outlay: $30,300Interest Rate: 5.8 (built in buffer, not sure how much higher rates are for investment property)Mort Type: 30 yr FixedMort Payment: $540Type: DuplexRevenuesRental Income: $1,900 ($950 x 2) Monthly, $22,800 AnnualVacancy: -$133 Monthly, -$1596 AnnualNet Rental Income: $1,767 Monthly, $21,204 AnnualExpenses: $10,400 (46%) close to 50% rule with deduction for no property managerProperty Taxes: $2,300 (based on zillow?)

She also rolls in some of the rehab costs into the total loan amount.So I paid 67k for the house and the loan was made for 88k.