I have looked at 50-75 multi family units around the Chicago area and most aren't even profitable let alone 100+ per unit.

With a little help from studying J Scott's wonderful site I soon corrected that mistake, sold the house and made a profit......Anyway, I am thrilled to be a member and I look forward to actively participating.

I did some of my most profitable deals when I did not have MLS access.

If you can find good deals and connect them to he right investors, then you'll be positioned to make profits.

I'm assuming, since you refer to cash flow, that the property is being held and making a profit each month.

Private lenders are in it for the largest amount of profit they can make.

With the $9800 in potential closing costs you shared, it would take 3.5 years offset by $230/month profit (230x42 months=~$9800) for you to break even with your current mortgage payments.

Id eventually like to rent it out, i think it would go for 1500 a month while my mortgage would be around 1100, so a nice profit.

From that alone we nailed several very profitable properties.In fact it's one of our best leads as far as owner holds as they still want a little bit of action. good luck

The contract, for example, might say that you do all the work, your partner puts up the capital, and you split any profits after the house is sold, plus anything else you want to get down on paper.