Rental and Cashflow Property - Management, Strategies and More

I have been studying real estate a lot this year, but just recently, someone told me it would be better to do multi-fam units first.

So, I went to this recommended site:
APTWealthMachine

I just want to know what would be better to start first.

I'm hunting around for comps for a duplex. I usually come across other property and it would say that it was bought for $1.00 or $5.00. I know that these homes haven't been bought with a dollar bill or a five dollar bill. What does that actually mean?

Has anyone had any experience with any of the online property management software applications such as Rentecdirect.com or Rentometer.com?

It seems like they do quite a bit except repairs, emergency calls, things of that sort.

I'm wondering if something like this would be a viable PARTIAL option for someone like me who lives in CA but is getting into multi's in a different state. If a system like that could handle the money side of things, I could always find a PM to handle on-site repairs and whatnot...at least that's part of my thinking.

Any experience out there with something like this? Your thoughts are appreciated!

Thanks!

Jake

Hello All... We have been trying to Sell our third Fix and Flip to no avail... Our next step is to Rent this SFR but have ZERO experience... I printed out the following Document from DG's list and need help with some questions:

1- Agreement to Lease with Option to Purchase (Doesn't seem like it is a Contract geared for the seller?)
a. Don't get the Personal Property Included
b. Don't Understand the Existing Loans
c. Purchase Price - Do you normally ask for Current Market Value? If so, what happens at the end of a 2 year Lease with Option and the Market Value Changed in either direction?
d. Don’t get #1 Terms, #3 Not to further encumber (I have 65% of the Property Value in a Mortgage and 35% on MY HELOC... I want to Refinance and get a check at closing to payback my HELOC)

Does anyone have a questionnaire to screen tenant/buyers?

What do you insure your rental property for ?
total loss replacement
80 % of replacement
50 % of replacement
whats owing on the property
Not sure what to do as the rates are quit expensive on a 100 % replacement any heip will be much appreciated .
Thanks

In the aftermath of the robo-signing scandal, new foreclosure actions are beginning to pick up in number and speed. However, lenders are now going to have to deal with possibly more than 4 million previously foreclosed homeowners who will be allowed to file requests for independent reviews of the procedures used to take their homes.

If the review turns up errors or malfeasance in the handling of the foreclosure and “financial injury” to the homeowner, they would be entitled to some financial relief. However, there has yet to be a definition or quantification of what that relief might entail.

14 major lenders are involved. They agreed to review foreclosure cases that occurred between January 1, 2009 and December 31, 2010.

First sandwich lease opportunity
3/4 bedroom. 1 bath on slab
Outdoor kitchen
Fmv. 110k
Payoff. 97k
Note (includes taxes and ins). $797
Average area rent. $800-$1100
Owner 3 months behind on note. $2400
Is this worth the effort??

Need advice on the numbers

Just negotiated my first lease option opportunity. But a little nervous about the numbers making sense.
Home is 3 or 4 bedroom. (one room has no closet. Can either b an office or bedroom)
1 bathroom
On a half acre lot
Fmv: 110k
Amount still owed: 97k
Average rent in the area: 850 - 1000
Note on home: 795 ( includes taxes and insurance)
Amount behind: $2400

This person came to me asking for help and doesn't want to go through forclosure but the numbers seem tight. Anyone with experience in this, I want to hear your thoughts.

Any individual can buy an investment property and rent it out. However seasoned real estate investors will make a property cash flow. Cash-flow means that your rental property is making money each month, and it is an asset and not a liability. Below is a list of rules that should be followed when buying rental property.