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 - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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