I made a few hundred k a year in my 20's.

John S.

Perhaps I played too much Sim City as a child, but just thinking about my wealth growing over time excites me!

The sim also assumes 2% for closing costs, and also 2% inflation (applied to everything except mortgage payment of course)Scenario 1 - keeping the financing in place until there are enough properties that when paid off will meet the cash flow goal.

Hey @J Sims - welcome to BP, you've come to the right place!

Here in Oregon I met with a few title agents, explained to them exactly how I would be purchasing properties (auction, short sale, etc...) and informed them that if I was to purchase at auction then I would need a pre-lim first.

@Warren Lim No you may not.

@Tereak Sims be yourself and be transparent.

In addition to what @Peter Lim asked, coming back to the question of "have you confirmed that it is legal to short-term rent the property?"

Hey @Lori Sims, I second @Brian Gerlach's recommendation of J Scott's Book on Estmkating Rehab Costs.