Now, our friend would like to wash her hands of the property (and her grandmother) and reached out to see if we would be interested in purchasing.

@Shay Kent when he was making the percentage, how much was he making per year?

If you have one apartment with a kid under 6, you'll need to delead that apt and the common areas that family will use, so the laundry room, common hallways/stairways that they need to walk through(*), and the exterior.

So this deal is as such:545k, plus 19k to the wholesaler.14 units of efficiencies, 2 units of two beds.2015 gross was 101k, plus 4K from laundry coin machines.NOI was 61k, landlord pays all utilities for the efficiencies, though they are separate metered for electricity.Location c, class c.Rents are slightly lower than market.Efficiencies are charging average 550, two beds are at 575.Just did the inspections yesterday, no major structural or roof issues, but definitely deferred maintenance in all units, bathtub are in horrible shape, tiles falling off the wall, carpets are nasty and the floors are very old.

I am building a hybrid apartment/hotel that will have short, medium, and long term guests/residents...located in the shopping and entertainment area with pool, gym, laundry, and outdoor courtyard and kitchen on site. 

The stack washer and dryers are expensive and from my experience they don't seem to last too long I don't know what what type of rent you are getting but if can get away without a wash dryer I would do so.Sometimes i might add an appliance as a convenience but I don't assume any liability for repairs.

DAY OF CLOSINGPick Up KeysPick Up Hard Copies of Lease DocumentsPick Up Personal Property (as-needed)BUSINESS PLANMarket Lease RatesGarage / Parking Lease RatesOperating BudgetDistribute Entity EIN # UTILITY TRANSFER/SET UPElectricalElectrical - SCE Auto/Clean and ShowGasWaterSewerTrashTelecom SERVICE CONTRACT SET UPLandscapingLaundry Facility Service (DO NOT EXTEND CONTRACT - SIMPLY REQUEST NEW FORWARDING ADDRESS)Pest ControlJanitoiralPool CleaningFire Equipment (Extinguishers, Alarm Box, etc)Elevator Service ContractCourtesy PatrolWater Servicer Vendor RESIDENT RELATIONSNotice of Change of Ownship / ManagementChange of terms: RUBS, Pet Addendum, NSF, Late Fees, Removal of HVAC from WindowsDistribution of New Resident Keys (Laundry, Gate, Pool, etc) MAINTENANCE & OPERATIONSChange all Locks/Keys {Gates, Utilities & Laundry -- Standard Key}, {Office & Shop -- Special Key}Maintenance ShopTool AuditTrash OutStorage Room & Janitorial RoomsTool AuditTrash OutCreate Building Systems Project ManualWater Main LocationsBuilding Water Shut Off Valve LocationsWater Heater / Boiler Specifications & LocationsSite Lighting Timer or Photosensors LocationsPool Equipment & Timer LocationsGas Main LocationsElectrical Panel/Switch Locations

Some folks include secondary revenue streams such as coin-op laundry and parking in their gross revenue.  

When we moved out, we threw out the blinds and drapes (and replaced them); washed the walls several times with TSP; primed with two coats of Zinsser; and repainted the entire room.  

Anyone has insight if I should switch to having the tenants pay or keep their rents competitive to provide in-house washing and dryer?