My partner and I do that on the side. He does the labor, I keep the books and other stuff. We try to buy foreclosures and houses on the cheap. Our bank will loan us 85% of the tax value. We won't buy unless we can buy for 60% or less of the tax value. We borrow enough to thoroughly through the house to make it as nearly maintenance free for a few years as we can. We get enough rent to pay the taxes and mortgage, and stash a few $$$ away for repairs. We have an LLC set up so we can use the services of Veri-Check. It is what most rental companies use for tenant background checks. It takes a lot of work initially to get things right, but itis working out good for us so far.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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