Once you turn in plans they will make you fix everything to code so you have to have a contingency budget for that alone as you won't know about these costs until after you close.Also, I haven't seen anyone complete a gut rehab in less than 10 months (in Chicago) so you have to consider your holding costs for a year (taxes, insurance, security, lawn maintenance/snow removal, water, gas, electric, cost of money).

I knew that they would need to seriously lower the standards for these housing prices in San Diego, where I live to continue to artificially rise for a year or two.

Mowing the lawn and snow removal is the responsibility of the tenant 

View report*This link comes directly from our calculators, based on information input by the member who posted.Did I get the expenses relatively accurate, esp regarding water (Cleveland) and lawn/snow? 

If you are using the LLC simply to flip one deal, it should just contain the real estate and not any of its contents or anything else that would be considered personal property, such as the industrial lawn mower that the prior owner left in the garage.

I live in LaGrange and work in Palos and Oak Lawn.

Cleveland does cite when the trash collection guidelines are violated, but I've only heard of it happening in extreme cases.....like when you're tenant loads up the entire tree lawn 5 feet high on garbage day (or the weekend before). 

Interest rates today have been artificially kept at historic lows, and are expected to rise in the coming years. 

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Wooded and spacious, just a little far out, but only 10 minutes from the interstate.Sales price is 600k9 units rent average $900Expenses are just lawn water taxes insurance 15000Gross income 97200NOI 82200The cap rate of 14 works but is valued at 66k per unit.