In the end, many folks opt for just having them replaced.

Networking with the folks around here will help you more than you'll believe.

It just takes time to learn enough where you don't lose your shirt, IMO.Financing is a big hurrdle, complying with the wishes of the neighbors and community, some can't get past the city council or building regs folks as they are frankly, scared to have a new developer fail and leave a mess.

I would hazard a guess that low income folks are more likely to get in over their head or not know how to handle their assets.

Even if I approached all of the folks cited in the amendment or went door-to-door how would I know who is authorized to put something in writing if the lady that is the representative is not of sound mind?

In the third year, nobody really seemed to care anymore, unless they needed flood insurance, in which case they only cared about the extra money they had to spend.If you want to see some rehab numbers on the two flood houses I've done, check out Houses #19 and 35.

The reason is there will be rehab and extra time and energy for the return spent and also no income coming in.Even if you go 60% costs the numbers still work at the purchase price.

Has anyone on here ever added extra income or not deducted all eligible expenses in order to show more income on your schedule E?

The other thing you can ask for is a cosigner from someone with better credit.Usually they move on to another landlord with lower standards but I have people jump through my hoops and with the extra "skin in the game" they have been better than average tenants.

I am now able to give back to that community and hope one day to be able to do the same here.I look forward to meeting some folks in the Orange County area.