12 units in Minnesota

[Andrew Carlson]

https://www.biggerpockets.com/...

Hey Bigger pockets. Here is a deal I am looking at in Minnesota. It is about 2 hours from where I live. The caretaker does pretty much everything except snow removal, which my dad would take over (he lives down the street). 

[Brendan F. Nagle]

The 1% vacancy scares me. Go higher and see if your numbers still work. If the town has good numbers, ie growing and not a huge crime area, this looks like a good deal. Deal breakers on this, If small town and the only big employer in town closes or doesn't come back to full capacity, could be 40-50% vacancy. Make sure you get rent roles and interview the property manager. Do you have financing lined up. A small town or regional bank may be your only option. Might not get the best interest/terms now.