Net rental income for the new one will be (75%*rent) - PITI.

In your case, the absolute best you can do is to pay your PITI payment and the PM fee (typically 10% of collected rent.)

@Brad Zerhusen My closing costs were:$206 Filing Fees$7,100 Origination Fee$3,500 Appraisal$16.00 Flood Certificate$1,810.32 Title Policy$2,537.40 Lenders Attorney Fee's$7,100 Mortgage Broker Fee's$10,428 Tax Escrow$10,036.74 InsuranceAnd I received $15,374.66 for tax proration.

And even then, I'd be hitting the rosary beads pretty hard, and promising God I would never do it again if He had pity on me this time, like an 18-year-old Alpha Chi pledge experiencing his first real hangover.Now, do you suppose most "wholesalers" have the means and intent to purchase the properties they place under contract?

From there, you pay in all your policy savings from having the higher deductible.

I was hoping that I could get some comment on how to run an effective PM business and some suggestion on policies that can help run keep the business running smoothly.

I only worked for two companies during that time so that allowed me to cross-train in all the different departments such as Searching, Customer Service, Policy and Prelim typist, Escrow Secretary, Receptionist and Title Secretary in the first company.Then I was recruited by a Sales Rep who opened his own company to set up his Word Processing Department where we used Display Writers (that should give you an idea of how long ago that was!)

Now let me separate rules and laws here, criminal penalties are enough for me to fall in line with a law that I disagree with, but just because some stuck up realtors sit in their ivory towers setting rules to desperately hold on to the control of information that they feel escaping their pitiful clutches does not mean I give a flip about them or their rules.

So, you're pretty sure that the socialistic policies in Sweden, Norway, Canada, Cuba, Egypt, etc, is going to lead to mass exterminations there as well?

About a month ago I posted in the "Starting Out" forum about mortgage limits and got contradictory responses:http://www.biggerpockets.com/forums/12/topics/105907-real-estate-limitsI've done some searching on the internet and am still unclear on what the right answer is.I'm hoping this forum has more seasoned pros than the newbie forum so here goes:Lets say a house has a monthly rent of $1000/mo while the PITI is $750.