For Vacancy)= 12672- 2399(taxes)- 420(garbage)- 420(sewage)- 600(insurance) 1500(Maintenance & Repairs) = 7333NOI= $7333.00Cash Flow= NOI(7333) - Debt Services(3828)AM15yrs=3504Yearly ROI= 14.6% (9000down+15000rehab)/3504(cashflow) Factored rehab cost into ROI to get a true number.

Save your cash for maintenance, pay extra on mortgage principal to get some equity, talk to CPA about tax breaks, talk to small bank that does portfolio loans, talk to a commercial realtor CCIM about a commercial property wealth plan, pref in the town you are focusing in.Read everything about multis here on BP Nation,http://search.yahoo.com/search?

To project a cap rate you must add vacancies, maintenance/reserves, and management costs.

The lenders policy in our area is 50% of what the regular title insurance premium is if it is bought from the same company at the same time.

I want to make offers on several HUD homes on a regular basis and I'm looking for a Realtor to submit those bids for me.Thanks!

I think your repair/maintenance estimate is ok, but it depends on the condition.

Look for concessions to get occupancy up (e.g. first 2 months free @$650 for remaining 10 months vs. the regular $600/month...)

Start with them they should get you to the correct area about purchasing the note.Make sure you do your due diligence on the value of the property prior to making an offer as I am sure there could be surprises of damage and maintenance on the house.

Plus mark-up on repairs/maintenance?

Could you rent it to two strangers and cover the mortgage plus maintenance and still cover a profit?