We closed on a 4 bedroom, 2.5 bathroom, 1,648 square foot house built in 1999, with a one acre lot for $104,395.08 total cash in an area with good schools on May 25.

Its 2 bed 1 bath each side. 1,400 sf total.

Immediate eviction means you WILL move out and the locks WILL be changed so you better get out.It is hard to get across degrees of this, but there is a fine line between enforcing the contract legally and Landlord action that essentially takes away Tenants legal rights...If this is approach is totally legal, I may start my own guru course in "How to Throw Out Your Problem Tenants Without the Fuss and Expense of Gonig to Court."

Basically, I am attacking all recurring expenses possible without totally turning off tenants.

On a total return basis, which is really how you should start looking at the project, you are doing pretty well.

@Cheryl C -- I can totally see that.

The total cost of ownership per year would be the business license which is $250 and the annual list of officers which is $125 plus a registered agent fee since you don't live in the state which runs roughly $100 a yr as well.

Having a concentration of units in one complex that I don't have total control of just doesn't make a sound business plan IMO.

People here are putting out the effort to find properties that will either give higher appreciation than that and/or generate generous cash flow to give them higher than average total returns.

I just feel like something must be wrong for it to be such a great deal.10 unit ranch style apartment building (6) units 1bd/1ba (4)units 2bd/1baAsking price $155,0001bd rents for $300 2bd for $400 - Total $3400/mo$155,000 X 2% = $3,100$3,400/2 = $1,700$155,000 at 5% over 30yrs = $832/mo paymentprofit = $868/mo Owner will finance.