Michael C. Thomsett is a financial writer who has published more than sixty books on investing, real estate, business, and management topics. He is the author of several Wiley books, including Getting Started in Six Sigma, J.K. Lasser's Real Estate Investing, and Getting Started in Options, now in its sixth edition. Prior to his writing career, Thomsett was a professional accountant and systems consultant.

• Introduction: A Market with Profit Potential. PART 1: Approaching the Market.Chapter 1: The Traditional Approach: Buy, Hold, Hold a While Longer, Sell.Studying the Rental Income Market.Advantages to Long-Term Investing.Disadvantages to Long-Term Investing.Deciding When to Sell.The Positive Long-Term Experience: A Matter of Management.Chapter 2: Financial Aspects: Keeping the Cash Flowing.Leverage and Real Estate.Mortgage Payments and Rental Income.Rental Expense and Tax Calculations.Tax Planning for Rental Income Property.Chapter 3: Fixer-Upper Alternatives: The Flipping Market.The Flipping Concept.Attributes of High-Potential Properties.Quick Fix versus Expensive Problems.Importance of Home Inspections.Estimating Time and Cost Features.Rental Income during Your Hold Period.Chapter 4: The Fixer-Upper Property: Abused Homes with Potential.Attributes of Fixer-Uppers.The Importance of Appearance.Recognizing Market Potential: Valuation Theories.The Unattractive Property: A Quick Fix.Creating a Budget.Checklists of Neighborhood and Property.Classifying Expenses: Cosmetic or Expensive.The Buyer Psychology.Chapter 5: The Combo: Long-Term and Fixer-Upper Portfolios.Investment Portfolio Planning for Real Estate.Conversion: Fixer-Upper to Long-Term Hold.Fixing-Up Expenses in Conversions.Combining Both Types in Your Portfolio: Limitations and Guidelines.Living in Your Fixer-Upper.Personal Limitations.PART 2: Rental Income Investment Planning Strategies.Chapter 6: Cash Flow First Aid: Stop the Bleeding, Do CPR (Cash-Positive Reasoning).How CPR Works.Studying the Essential Cash Flow Problem.Guidelines and Suggestions: Managing the Profitable Situation.Cash Flow and Fixer-Upper Time Restrictions.Calculating Rental Property After-Tax Cash Flow.Chapter 7: Taxing Matters: Inevitable but Advantageous.Real Estate Tax Rules.Depreciation: The Basic Rules.Figuring the Base for Depreciation.Tax-Deferred Exchanges.Chapter 8: Risky Business and Rewarding Business: Comparisons.The Nature of Risk.Comparative Risk Analysis.Features Defining Risk.Tax and Inflation Risks.Mortgage Cost Risk.Chapter 9: Diversification and Allocation: Many Baskets and Many Eggs.The Purpose for Diversification.Forms of Diversification.Why Some Portfolios Are Not Really Diversified.Review and Change.Chapter 10: A Long-Term Investment View.Cash Flow versus Profits.Identifying the Profit Margin.The Importance of Turnover.Fixer-Uppers and Your Financial Plan.Long-Term Rentals and Your Financial Plan.Checklist: The Key Ingredients.Glossary.Index.

Michael C. Thomsett is a financial writer who has published more than sixty books on investing, real estate, business, and management topics. He is the author of several Wiley books, including Getting Started in Six Sigma, J.K. Lasser's Real Estate Investing, and Getting Started in Options, now in its sixth edition. Prior to his writing career, Thomsett was a professional accountant and systems consultant.

• Introduction: A Market with Profit Potential. PART 1: Approaching the Market.Chapter 1: The Traditional Approach: Buy, Hold, Hold a While Longer, Sell.Studying the Rental Income Market.Advantages to Long-Term Investing.Disadvantages to Long-Term Investing.Deciding When to Sell.The Positive Long-Term Experience: A Matter of Management.Chapter 2: Financial Aspects: Keeping the Cash Flowing.Leverage and Real Estate.Mortgage Payments and Rental Income.Rental Expense and Tax Calculations.Tax Planning for Rental Income Property.Chapter 3: Fixer-Upper Alternatives: The Flipping Market.The Flipping Concept.Attributes of High-Potential Properties.Quick Fix versus Expensive Problems.Importance of Home Inspections.Estimating Time and Cost Features.Rental Income during Your Hold Period.Chapter 4: The Fixer-Upper Property: Abused Homes with Potential.Attributes of Fixer-Uppers.The Importance of Appearance.Recognizing Market Potential: Valuation Theories.The Unattractive Property: A Quick Fix.Creating a Budget.Checklists of Neighborhood and Property.Classifying Expenses: Cosmetic or Expensive.The Buyer Psychology.Chapter 5: The Combo: Long-Term and Fixer-Upper Portfolios.Investment Portfolio Planning for Real Estate.Conversion: Fixer-Upper to Long-Term Hold.Fixing-Up Expenses in Conversions.Combining Both Types in Your Portfolio: Limitations and Guidelines.Living in Your Fixer-Upper.Personal Limitations.PART 2: Rental Income Investment Planning Strategies.Chapter 6: Cash Flow First Aid: Stop the Bleeding, Do CPR (Cash-Positive Reasoning).How CPR Works.Studying the Essential Cash Flow Problem.Guidelines and Suggestions: Managing the Profitable Situation.Cash Flow and Fixer-Upper Time Restrictions.Calculating Rental Property After-Tax Cash Flow.Chapter 7: Taxing Matters: Inevitable but Advantageous.Real Estate Tax Rules.Depreciation: The Basic Rules.Figuring the Base for Depreciation.Tax-Deferred Exchanges.Chapter 8: Risky Business and Rewarding Business: Comparisons.The Nature of Risk.Comparative Risk Analysis.Features Defining Risk.Tax and Inflation Risks.Mortgage Cost Risk.Chapter 9: Diversification and Allocation: Many Baskets and Many Eggs.The Purpose for Diversification.Forms of Diversification.Why Some Portfolios Are Not Really Diversified.Review and Change.Chapter 10: A Long-Term Investment View.Cash Flow versus Profits.Identifying the Profit Margin.The Importance of Turnover.Fixer-Uppers and Your Financial Plan.Long-Term Rentals and Your Financial Plan.Checklist: The Key Ingredients.Glossary.Index.