Purchase price: $340,060 Cash invested: $68,012 Long term hold.

My wife and I have loved real estate for a long time and invested in other areas, but are focused on building our portfolio in Kansas City.

The last thing you'd want to have to do is manage your future partner since you question their decision making or experience and you've already invested with them. 

I've been eyeing land in Central and West Texas, and they occasionally have some interesting opportunities, but some of them seem too good to be true. 

But that extra $7200/year will go a long way in paying down your loan faster, build up another downpayment fund, pay off other debt, etc. 

I've largely stayed away from the "sub-to" buz word, but I have done a couple sub-to flips knowing that I only needed to hold onto them a couple months and I was prepared to pay off the notes if they were called.Sub-to for long-term hold on the other hand has me nervous. 

Great long term hold Lessons learned?

This is my first post and it definitely will not be my last.

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

Hi Account ClosedI would say never, or at least not for a very long time. $2,000 isn't enough to even invest with (in my opinion).