Running the numbers

[Dwight Jackson II]

I'm a total n00b.  Im, currently looking at a 20 unit building.  I want to reduce the number of units to about 12-15 (the building will also be my primary residence and I plan to be the property manager.  I want to have traditional tenants and use some units as Air Band B apartments. The building cost 15k (I'm sure I could get it for less...its been on the market for a long time (probably a bad sign hahaha), it s in a bad neighborhood, and is a total rehab (roof missing...etc).  My question is, how do i run the numbers on a property like this?   How do you estimate renovation?  Pay a contractor?  and the other metrics needed to see if this is a good deal or not.  I forgot to mention one other tidbit ...I'm an expat currently living outside of the US. 

[Pratik P.]

So you're talking about doing a complete renovation of this 20 unit into 12 units? My first question would be why? More units the better. Even if you'll live there.

Bad neighborhood, major structural issues and large redevelopment cost? That's not something a "total noob" should dive into.