Let’s break it down with the 70% rule to see if it’s investor-friendly:ARV: $190,000 (taking the middle of $180K-$200K)70% of ARV: $190,000 * 0.7 = $133,000Minus Estimated Repairs:Roof: $20,000AC: $4,000Additional repairs (general estimate for a property needing updates, say flooring, paint, minor plumbing): $10,000-$15,000Total Repairs: approx. $35,000Max Buy Price for Investor: $133,000 - $35,000 - $10,000 (wholesale fee) = $88,000Since you’re getting it for $91,000, you’re close, but to make it irresistible, consider negotiating the purchase price down a bit further.

One bit of advice where you can be ahead of the curve is to write down your screening criteria for possible tenants and commit to following it.

Just a heads up, your rate will spike going from 75% to 80% and you'll need at LEAST a 1:1 ratio.

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

What is the true marketing channel Whether it’s direct mail, cold calling, networking, or something else, I’d love to hear what’s been working in your market and how you’re staying ahead of the competition.

Rental income and expenses, such as mortgage interest, property taxes, repairs, and depreciation, can be reported on Schedule E of your personal tax return, regardless of ownership structure. 

That's a great way to learn from others who are in the same boat or farther ahead of your curve.

That experience gave me a solid foundation in property management and repairs.

We have to order six months ahead from our Mennonite source and put a deposit down

I left that job to join Roche Tissue Diagnostics where I repair medical instrumentation across the Midwest.