I use a Straight Talk prepaid phone that is 2 years old and I won't likely replace it for 3 more years.

I also notice cash for gold and prepaid cell phone stores in questionable areas.

I had $80k in my 401k pulled it all out prepaid the taxes took the penalty and used it on a down payment for 2 triplexes and a duplex.

My best = $170K purchase, with $3.4K seller credits (2% to cover prepaids).

Although my collections have been normal I will not do a longer than 29 day agreement unless it's pre-paid.

They ended up coming from Trulia, which came from posting it on Zillow.Here are the numbers:Purchase Price:                 $129,000Down Payment:                $25,800 (20%)Prepaid/Closing Costs:    $5,215Renovations:                     $10,845Total:                                   $145,060Monthly rent:                    $1,500ARV:                                    $158,500Things I've learned on this one:I probably could have gotten the bank down a little more on purchase price.  

Expect to pay about $5k or so in lender fees plus your title fees, prepaids and escrows.

Fees:Upfront (pre-paid fee) $3k – This was the 1sttime I ever paid a fee up front (other than an inspection)2% lender Fee – Very Expensive but I suppose is standard for this type of loan productLoan would be serviced/funded originally by Stronghill CapitalSold within 30 days to new providerEarly pay-off penalty (expires after year 5)Feel free to message or ask any additional questions that can help you in your investing journey.

Take advantage of this while it lasts.Lenders will usually allow 2%-3% of the seller to cover your closing costs, pre-paids and other costs(down payment).

I have been trying to do it "right" and use accrual, but thinking I may be making things harder than they need to be.Even with just a handful of properties, things are quickly spinning out of control with journal entries for accruing property taxes monthly (paid at the end of the year) and insurance (usually pre-paid and then expensed out monthly, but each property seems to be a little bit different).