Apt 2 rented at 1300/mth (2 bd)I would call the rentals B-/C because they are in a giant metal shop and low grade materials.So gross income of 76K annually.Expenses:Insurance is currently $14652 annually but that seems way too low when SFH go for that muchTaxes are currently 2800/yr, but I expect those to nearly double if I pay his asking price (so let's say 5k/year.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

First month rent for placement and 10% gross is pretty typical in these lower end markets.

If an investment property, there non-warrantable DSCR loan options.Some details:Loans available for purchase, rate and term refinance (no cash out) and cash-out refinanceCredits score down to 620LTV are up to 75% for purchase and 70% for cash out.Rate buydown feature available.DSCR (lower of gross rent lease or Form 1007/216 rent divided by PITIA) as low as 1.0x.For experienced investors (one year of investor experience and own home), short term rentals can be structured off of 12 month short term rental history with 20% expense factor.

It typically falls into 6 months of gross management fees on the low end and a year and a half of gross management fees. 

Details:I am looking at a market where for years multi-family has been selling for a 10x multiple of gross rents. 

Good location, appreciation not guaranteed for the next several years.  895k asking price. 101k gross annual incomeExpenses: Insurance: $4,898Electric: 2,579Water/Sewer 5,085Fire Alarm Connection 708Property Taxes (if/when assessment is adjusted to sale price)-31,95130 Yr mortgage (20% down at 7.75%) 61,560Maintenance, Long-Term Capx, vacancy- 9,000 (this is probably a bit low)Total annual expenses: $115,781

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.

My yearly gross revenue is  about $92,000 and my cost per unit/door stabilized remodeled is about $60K .

The dept of finance has my estimated gross income over 150k then what it really is.