Especially the first time something bad happens (and something bad will happen) such as an eviction, slap leak, collapsed sewer run, new roof, etc it could be challenging to see the positive of having a cash negative rental.Make sure you are mentally prepared to supplement this property for potentially years through some difficult events.good luck

About a year ago, I made some mistakes that led me to prison, but that experience completely changed my mindset and made me determined to rebuild my life with purpose and integrity.

Operating expenses look at the regular and ongoing costs incurred by a property on a monthly or yearly basis. These expenses include property taxes, insurance, maintenance, administrative and office costs, payroll, ma...

In the process you learn that the seller is under her sisters care because of mental issues.

You have a poverty mentality and are trying to do things on the "free" without knowledge.

It’s about mental models.I’ve made my share of mistakes managing small properties, and these models are what keep me alive as a landlord.1.

Due to my time limitations, I went with LO mentally.

I don’t do the mental gymnastics of inflating cash flow in my mind on a property that I put a large amount down or paid cash for.

We do a simple "Stress Test" with the people we work with to determine what will work. 

We embrace S8 applicants, but screen them just like any other applicant.Many have an entitlement mentality and try to leverage their S8 voucher by pretending to be helpless:1) A percentage won't apply because they expect a landlord to waive application fees for them.2) Many cry broke and expect a landlord NOT to charge them a security deposit.3) Many of those same S8 tenants trying to avoid paying a security deposit, won't make an effort to call the list of nonprofits we send them that will pay their security deposit if they apply.4) A lot of them try to avoid paying for utilities.