@Rodney Miller no trying to troll, as i am really interested in OKC, so correct my math (cuz i dont know the labor costs there).
floors (inside the house) - 5k ish ( LTV + labor)
walls (tear the wood down put drywall) - 3-4k (with labor)
garage (recement) - 1k aprox ?
kitchen (cabinets, plumbing, counter tops (low end) - 3k (with labor)
furnace - 3.5k
water heater - 1k
bathrooms - 2k (on the very low end)
roof looks good (right?)
i assume additional hmmm 2-3k for small things here and there...
hmm so on the low end ...around 20k ish? ...
37 + 1k closing costs aprox? + (inspections) 500 + 20k = 59 ( lets say 60 k)
750 x12 = 9k
real estate taxes ( around 800-900?)
PM - 10%
Insurance - 10%
the usual: 5% vacancy, 10% capex
so 9k - 45% = 5k NOI ( if all bought cash)
(thats if the market is favorable and you dont get stranded for a month or two looking for renters)... kinda tight if you ask me. 60K is a big investment for 5k a year in profits.
