Multi-Unit turn key property

[Wave Taylor]

Has anyone had success with turnkey multi-unit? There is a 3 unit property in my area for about $79,000. Probably a C+ neighborhood. Don't know what the rents or expenses are yet. Looking for preliminary advice.

[Charles Carillo]

@Wave Taylor

I purchased a turnkey 3 family home 10+ years back in a C+ area and even though most of the improvements had been done, there were still a few capital expenditures that had to be handled within the first 7 years. That being said, the property is a great property and I still own it. The point being that during the inspection, make sure you review the condition and lifetime of all aspects of the property including; roof, mechanicals, windows, condition of units etc and have a plan. Lastly, make sure you set aside a reserve monthly. This will most likely be a higher amount per unit that say a 50 unit building since there are less units to cover capital expenditures.