Texas and seller financing is a mess and the man to talk to is John Jackson on BP.LOs and CFDs are part of "executory contracts" in which the Texas State Legislature screwed the little REI guy back in July 2005.See http://www.lonestarlandlaw.com/Executory.htmlHere is a portion of a letter that I received from a great TX contract attorney.

The ball valves at harbor cargo have yellow handles - and they're about a large portion of the cost of valves at the warehouse or lowes.

The community bank will also consider a large portion of the rents received as income immediately, without having the tenant in the house for a year or more.

Rentals constitute a large portion of our retirement plan, meaning having all of our rentals in one markets puts our retirement disproportionately at risk.

Curious to know if I totally screwed anything up in this basic calculation.Purchase plus rehab = 125KRent15600 (1300/mo)Tax1350Insurance800Mortgage5400 (450/mo for most of purchase price)Repairs600 (I'm a handyman and will be servicing the property)Utils480 Gross Profit6970/125K = 5.5%Taxes paidRent Income15600DeductiblesTax 1350Insurance 800Mortgage Interest3636 (1764 principle)Repairs 600Utils 480Taxable Rent8734.25% tax rate2184 taxGross profit6970Net profit 4786 (399/mo) = 3.8%I am also wondering if the principle portion of the 450 mortgage payment is considered profit, which would change the net profit calc to this:Plus Principle (1764)6550 (546/mo) = 5.2%Thank you in advance.

Not an expert here, maybe some high temp black paint just for the hearth portion.

They are likely referring to the business income/loss of rents portion of the claim.

The main reason we decided to use a PM is because we will be using a portion of the property ourselves and will be there on a daily basis.

One of the collections agency is suing her for a portion of the debt and just opened the case on Nov 1.When I clicked on the "case history", it read1/24/2013 Suggestion of Bankruptcy, filed.Not knowing what this is, I looked that up and it said, "Suggestion of bankruptcy is a document filed with a court to put it on notice that the defendant in a pending lawsuit has filed a bankruptcy case."

We get a good property without the hassle of getting the loan.This works for me as I have plenty to do the down payment (or my portion of it) but cant' STAND the lending process.