I've been doing my homework and learning as I go along and trying to connect with people.Thanks for your good wishes,Phyllis

First position notes to experienced rehabbers are generally safe, so long as you do your homework.

I just find it easier to do my homework up-front as soon as possible and then make an offer in which I am not just plain guessing at repairs and with as few contingencies as possible if I feel pretty good about the deal.

As Bill Gulley has mentioned, HUD uses 30% of income for the contribution from their Section 8 tenants; that is pretty close to 3x so we use 3x to keep the math simpler.

In the unlikely event that you get sue, the prosecutor will do their homework and see that you only have one duplex and even have the 1st lien of top of it Most likely they won't be able to get anything out of it after all the attorney fee and court fee.

My math was, I buy for $99,500, it is worth $102,300.

Being a realtor is the main option most people think about, but you could also get into real estate appraising if you like analysing and numbers, property inspections if you like digging around and looking for problems, and mortgage broker if you like math.

I can tell you have the desire to make REI part of your future, seems like you've been doing your homework.

I didn't think about rolling the closing costs into the loan....quick math indicates it would only add about $30 to the payment and I get to keep my capital and increase my cash flow.

Do the math and you will quickly see that making that 50k on the flip is a distant and dwindling wish.