Another way I use financial statements is before I get ready to make a deal, or when my personal financial situation changes, for example needing to move or earn more money, I will look at my income statement, my balance sheet, and my list of properties that shows value to debt numbers and cash flow numbers.

There has been horrible accounting as to where exactly the money has gone & I do not expect that to change.In my opinion we are simply debting ourselves into a greater problem.

Adam forget about the HELOC and focus on finding a house that someone is in trouble with and take the property over SUBJECT TO THE EXISTING MORTGAGE.You can also do a lease with option to buy and then negotiate not putting down a whole lot of cash and getting rid of credit card debt and other debt.Loosing a job is not the problem.

., supposedly to make up for what they didn't collect due to foreclosures.

Those intangibles will also give you a good impression of how they'd treat your property.Furthermore, I do collect a $20 application fee.

Please keep in mind that if as the owner or a property you cause a fire or some damage from inferior workmanship, you will not be able to collect a claim from insurance.

My 2009 business cut back plan is simple...1- My lease ran out on my satellite office so I did not renew it SAVING $$6500.00 per year (rent, phones, internet, gas getting there)2- NOT buying a new or used car this year SAVING $$6,000.00 (in payments, interest & full coverage)3- NOT hiring anyone new this year SAVING $$27500.00 (but it keeps ALL the pressure on me)4- paid off almost all debt SAVING $12,000.00 in interest per year (commercial loans, high interest credit cards)5- Scaled back the cell phone plan SAVING $1200.00 per year6- NEGOTIATED with internet provider down from 65.00 per month TO $20!!!!

In an inflationary environment, fixed rate debt, such as a mortgage gets cheaper in real dollars over time.

It is in fact a large contiguous collection of mini markets.The Newingtons from Elk Grove set you in the right direction when they asked about the zip code that you had in mind.

$180 mo. water/trash ----------------------------- $1,110 total Rent collected: $575 x 3 = $1,725 + cash flow of $615 per month (vacancies and management fees were not calculated in, as this property previously had no vacancies and since empty, you'd be getting all new 1 year leases).