Something askew is in play, and to our detriment as investor-buyers.

I agree with everyone Hud should credit you more than $500 to resolve issueGood jobs taking photos from the startTV4 // TV6 just run a special this past weekend Topic property missing plumbing,, ac units ,, etcOtherwise steal vital components from foreclose properties Supposedly county of Milwaukee our going after original / new property owners for code violationsWhile banks ,, government just keep on going Heck just in last 30 days alone over 680 sheriff sales Lastly, I would suggest placing temporary alarm system while rehabbingThat way your new components stay attachBetter to be safe then sorry

I'd ask each place to itemize their closing costs, as the components can vary.

Always have a reserve in place to be able to pay for unexpected repairs as they're sure to surface over time.Even with the unexpected road bumps, I continue to be a huge believer in real estate as a critical component of investment strategy.

There are investors that do this kind of thing with HUD homes as well.They sign paperwork at closing that they are occupying the property.Another component of this is fraud to a lender on a loan if you say you will be living there.The reason is lenders give certain rates to owner occupants because statistically you will fight much harder to keep a place you live in.If it's just a bad investment it is easier to walk away hence a higher rate and more down.This property from what you said is 2,400 X 12 = 28,800By half is 144,000 at a 10 cap based on 50% costs.The carpet and paint the bank put lipstick on it it appeal to a home buyer living in one unit and driving the price up.On a quad typically you could expect about 8,000 for the siding,4,000 for the roof,6,000 for 4 outside A/C units,if interior bathrooms and kitchens are outdated about 4,500 by 4 units is 18,000,then water heater and heater about another 6,000 total.So conservatively I have about 42,000 in immediate CAPEX.Every areas cost is different so I am just throwing mine out there.Now the other you say 20 quads total is what you need to worry about.If there are a bunch of short sales and foreclosures from vintage 2004,2005 loans then the new purchaser with a cash offer or a small debt service will rent below market to fill quickly and turn more or the same monthly cash as you.So you starting out at 600 rent monthly might go to 550 or 525 in your development.I have seen this happen.I have also seen even if your building is well kept quality tenants do not want to live next to the other buildings where landlords put in suspect tenants to fill up.Also some landlords with high debt service will drop rent instead of repair to keep tenants so they won't spend tens of thousands out of pocket to rehab.

Tax payers will now be able to dispose of a component of the building when it has been improved.

Don't drop that because if something happens to the interior (flood, fire) you will need that $10K to replace your components.

It's all just a matter of opinion.I do not think getting an education is only to the detriment of becoming highly succesful, either as a business owner or as an employee.

There is no specific contract involved though most deals will use a P&S contract.Subject-to is also a technique and not a contact.Lease options have a lease component and an option component.

I would separate this into two components.