With the $9800 in potential closing costs you shared, it would take 3.5 years offset by $230/month profit (230x42 months=~$9800) for you to break even with your current mortgage payments.

Id eventually like to rent it out, i think it would go for 1500 a month while my mortgage would be around 1100, so a nice profit.

From that alone we nailed several very profitable properties.In fact it's one of our best leads as far as owner holds as they still want a little bit of action. good luck

The contract, for example, might say that you do all the work, your partner puts up the capital, and you split any profits after the house is sold, plus anything else you want to get down on paper.

There will be a significant upfront cost/investment to do this but I am thinking it can be a long term profitable little side business ESP. b/c of the fact I will own the building and will not have to pay rent to anyone buy myself as well as it won't require much overhead to run the business.The other positive factor is I would buy the equipment new so there would be low maintenance/repair issues.The way I see it my biggest expenses would be utilities IE. water and gas electricity, as well as insurance and then whoever I hire to run the business.

Currently we have an arrangement where one of us contributes the purchase price and half the rehab costs and the other contributes half the rehab costs for each project, we split profits 50/50.

The hard part is finding GREAT deals..MAO standing for Maximum Allowable Offer and the wholesale profit you need means you need to get a deal for a price even below what a rehab flipper or buy and holder will pay (their MAO).

The buyer is getting it marked up for the seller to profit, might be too high a price to get any cash flow for the buyer.

I have been looking at multi family homes for a bit now and some concerns I have between 2s, 3s, and 4s is the net profit.A duplex for 129k rents for 800/unit, profits ~$215-300/monthTriplex for 129k @ 650/unit profits ~$390-543/monthQuad for 129k @ 600/unit profits ~$615-860/monthSo I guess the question is why do people buy duplexes or tris?

If you were to list the property to sell it, almost all of your profit would be wiped out.