If you can pick this place up at a price so low you can wholesale it ... go for it.Good LuckNavyDoc

You can do 'in-season use' during the week, and not give up much income either, as weekends are always more popular anyway, you pick which days your unit is 'off the market' and they just make your unit 'booked' in their hotel system those days.2% rule is so far away I'm ashamed to ask about it.Cost: 195,000Annual Costs:Taxes 1633Gross Rents 2012: 24,300Annual Condo Fee: 6000Pay 22% to the front desk: 5400Pay maid fee for booked nights: 2000Pay parking fee for booked nights: 1050Electric: 1200Netting: ~7200/year or $600/month for P+Iso... to get to cashflow neutral ASSUMING NO ADDITIONAL REPAIRS(which is quite a bad assumption).

Flip this house isn't done but it still sucks bc what is going on is they picked a new flip company to follow around b/c the old company by Richard Davis is getting sued so basically they had to pick a new company for the Second season this sucks though this guy was funny and he seemed really good at flipping he does like 3 houses an eposide he is fast

Utilizing this strategy together with a huge network of bird-dogs, they are able to put together a large amount of deals in a short period of time.

That is unless you utilize a 1031 exchange.Now, the parameters of dealer status aren't concrete.

My other question is about utilities.

Thanks.5 Unit aparment house in Rhode Island7 Parking spaces for add. incomeAking 299,000Purcahsed for 250,000 ( 16% less than asking price ) 299,000 - 250,000 = 49,000 / 299,000 = 16( 25% Down{50,000.00})200,000 mort.30 Years7.8% fixed1439.74 monthRental Income525.00 for average unit ( This may be off for this area or not )Gross Monthly2625.00Yearly Gross31,500.00Parking Space Income175.00 month ( 7 x 25.00 = 175.00 )175.00 x 5% vacancy = 105.00Parking Space NOI 1995.00 yearlyExpensesGas ( 50.00 month, 600.00 yearly )Electric ( 100.00 month, 1200.00 yearly )Water ( 70.00 month, 900.00 yearly )Total Utilities ( 220,00 month, 2640.00 yerly ) Vacancy ( 131.00 month, 1575.00 yearly) (31,500 x 5% = 1575.00) Taxes ( 275 month, 3300.00 yearly )Insurance ( 100 month, 1200.00 yearly)Yearly Rehab ( 75 month, 900.00 yearly )Yearly Maint

., take the pick of the litter before it hits the mls and pass the rest on to the "non-licensed" investors]?

This is definitely the place to pick up a great deal of REI knowledge.Good Luck,NavyDoc

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