So if you subtract off all the utilities including cable (Say $400) we are looking at $1700 a month for a year lease and $1900 for short term lease.

If you've just been on market a short number of days, counter the $215K  Offer & $5K Closing Costs paid by Seller, with $220K And agree to pay the $5K.

I needed the report by Wednesday that week, before due diligence period ends, so I thought that would be fine. 

The short answer is yes, diversification is a good thing

Purchase price: $425,000Repair estimate: $100,000ARV: $650,000 Our offer was accepted, and we are in escrow today (21 day escrow, with 15 day inspection period).

Not the best choice if you are low of funds but good if you are short on time.

The idea is that over a long hold period, your expenses on an investment property if you track them very well will tend to gravitate to about 50% of the income it produces. 

Hello,Before reaching out to an attorney, I would like some feedback, please.About two months ago we purchased a short sale in Illinois.

If I wanted to use an FHA loan to do the same thing again, will the FHA lender look at the rental income satisfying the original mortgage, or is there a period of time before a FHA lender will include the rental income?

Hi BP folks - my partner and I are closing on a property shortly.