Since we got current we have never once been more than 15 days past due and we always pay the late fee when we are late.

The rental income from last year minus the management fee will more than cover the costs if it remains constant in years to come.

If you want an assignment fee, you'll need to subtract that off, too.A lease option is going to have an option to purchase.

If you are going end up with a large assignment fee.

You're paying an extra $1000/month over what it would cost you to just rent a place.Now, lets put 10% down, plus closing costs (about 2%) and loan origination fee (1% typically, though could be more for a loan like this.)Total cash invested: $103,200Cash flow: -$2270/monthCash flow: -$27,200/yearSo, you're investing $103,200 and losing $27,200 a year.

Ive Read in several places that if you have your realtor license that you have to pay the 3.5 percent, or whatever your broker's fee is, on persona investment properties, is this true, or does it vary from state to state or company to company?

If the "rent" he's paying you to use it as a model just covers your P&I, you'll still have HOA fees, and maybe other maintenance.

Also you could find someone on this forum that has been in real estate for many years and offer them a finder's fee for hooking you up with a buyer as well if you don't want to create you're own buyer's list. 7.

If you are planning to wholesale the property, you would market to your buyers list or in many other ways, and when you found a buyer for the property, at a price which would include your assignment fee, you would assing the contract between the seller and you, to your end buyer (the assignee).

Dept store cards typically have the highest rates, worst fees, worst penalties and if you can only use them at dept stores they tend to create situations where people buy items (clothes, shoes, electronics) that they cannot afford.