Taxes, Insurance and who pays utilities could make this a loser real fast.

(was listed Apr 19 @ 190k, they have been slowly dropping it)Arv: 225 x .7 = 158k158k-25/30k repairs-5,700 carrying costs (6mo. carry)-300 utilities-1500 taxes-1500 ins.-13,000 realtor selling fees-5,000 purchase closing costs (estimate)This gives a max purchase price 105k???

Check with the courtesy closing agent first to see if they will double close it, and if not, I would try to get the lender to let you pick the title company even if you have to pay for the policy.

It'd be nice if you picked up the electric bill while you are at it.

There are about 6-7 homes in our price range, and they are not moving well, although the pace seems to be picking up.

If you have the cash nothing's stopping you from buying with all cash.Just pick a set of 'investment guidelines' as set forth within this site, follow them, and make sure you get a 'good' deal.Clean up your 'terrible credit' and things will get easier.Good luck.

This is what it looks like.6plex Sales Price $325,000 Loan Amount $260,000 Interest Rate 7.125%Term in Years 30Loan to Value 80.00%P & I $1,751.67(This loan is through an Alaska housing program for which both this property and I qualify for.)Total Rental Income $57,600 Less Vacancy 10.00% -$5,760Adjusted Gross Income $51,840EXPENSESTaxes $4,584 Insurance $2,580 Utilities including Refuse/Cable $9,661 Management $4,725 Maintenance & Repairs $1,000 Replacement Reserves $1,800 Miscellaneous $1,000 Total Expenses $25,350 Net Operating Income $26,490 Total P & I $21,020 Net Cash Flow $5,470 = $455 per monthI know that the cash flow doesn't look that great with the property management cost but it is required to be factored in for this program.

In fact, she has picked up another job to subsidize the month-to-month loss.

If anyone would like to pick my brain on wholesaling or give any advice I welcome anyone who would like to do so.....Thanks for reading....

Same thing with some utility companies.The State can put a lien against the property for their taxes owed.