By definition, almost every property on the market can be purchased at market value, so this "deal" is certainly not a good one.In addition, getting $1,300 rent with a payment of $800, will just about guarantee that you will lose money.

I do not really need any additional funding to rehab the building but I am sure I could find the minimum 5k worth of repairs to qualify for the loan.

In addition to the written word, these books have lots of pictures - perfect for landlords!!!

I pay close attention to what they select (remember, these are investors themselves), what they say about the property, the area, the rents the property will yield (I check the rents against what the PMs say - the PMs tend to be a little more cautious on pushing the rent numbers and if you weigh an additional month of vacancy against that extra $75 of rent, you will find a 1 year lease may break even for the vacancy holding costs - so I tend to price a little low for an area).

Actually, its 20% down of $52k (so, 10,400).So the cash on cash return is: 59.65%I'm purchasing it for 52k, and will be able to rehab it for an additional 26k.

My parents offered to cosign this loan for me (can varify their income and both have 800+ ficos) but I'm also interested in purchasing additional property myself without any cosignersIs it possible for me to get a mortage under these conditions?

My goal is to generate enough monthly cash flow to quit my full time job and pursue personal business interests and additional real estate investments.

I've been advised that in addition to the liability protection an LLC provides, and in addition to the homeowner's insurance I cover on my rental property, I ALSO need insurance for the LLC that protects me from general liabilities that might arise....Sounds like overkill to me...thoughts anybody?

You will still pay tax on all retained earnings and depending on how well you can justify the retention as needed to conduct the business you may pay some additional penalties to "retain it".

In addition, the contract probably also states that the listing agent will cooperate with other brokers and offer a buyer's agent 3% of the total 6% commission.