Thanks for the replies!
Yes, Charles we would manage it ourselves as we are home quite often with unconventional jobs.
We live as renters in the same situation now and have observed closely (and helped a lot with) the owners time and management around this building. We know there will be much more to it , but I think we have some idea of what to expect.
Now Jon, this terminology is all new to me, can you tell me what you mean by this "property won't cash flow very well" and why?
The property will sell for about 705k, with tenants in place making rents of 3650. This is not including the owners unit of course.
The price is 10- 15 % off the high from a few years back and is now flattening out / starting a slow climb in this area.
To rent something comfortable for my family would be 2500 - 2900 / month.
So........... given all of that, with the maintenance of a 100 year old home, property taxes, etc. Is it better to buy an OO fourplex or stay a renter?
Thanks again!
