[All You Can Analyze Weekend]

[Ryan Starr]

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Newbie here.  Looking for duplexes near me in Oregon has proved enormously frustrating.  Out of curiosity, I tried Pittsburgh, PA as I'd heard it might be worth looking into.  This is the first duplex property I found on Zillow and first I analyzed on BP.  My previous frustration tells me this can't be right and that there has to be a problem here.  Anyone familiar with Pittsburgh able to fill me in on the local info here?

More than anything I'm looking to know if I'm wasting my time in Oregon.

The thought of long distance investing terrifies me.  I know I would have to find the core 4 rock stars in any location, but that's much easier to do if it's your back yard.

Any thoughts or pointers are much appreciated.  Thank you in advance.

[Jeremy Taggart]

@Ryan Starr This particular place has some potential structural issues that would likely need taken care of which is why it's still on the market. So not your typical deal. I would use $1800-$1900 in rent instead of $1980. I also like to use closer to $200 (or about 10%) each for maintenance and capex on the older early 1900's homes here in Pittsburgh since you are going to have more maintenance with those. Your insurance is also going to be closer to $50-$70/month. Taxes are currently $103/month at an assessed value of $54,800, so I would also consider a more conservative number there as your "worst case scenario" assuming there would be a tax increase to the new assessed value. Say something closer to $240-$250/month, although the exact amount would vary. Just so that doesn't catch you by surprise if it were to happen. Maybe bump that "other" category up to $50 just in case. Lawncare being a main one if the tenants aren't going to be doing it. Closing costs are also going to be higher than $2500 if you are using a loan. City of Pittsburgh transfer tax is 2.5% each side so that alone would be $3750. Plus title, loan, and escrow amounts if you are using a conventional mortgage. Your closing costs would end up closer to $8-10k probably. Up front repair costs would vary depending on what would need done to take care of the structural issues and anything else that might need addressed, but would need to see the property to say for sure on that.