It is a duplex totaling 4 bds and 2.5 baths with modern updates, in great condition.

Many banks handling tax escrow accounts for mortgages have mistakenly thought there was one tax due twice/year or totally missed one of the taxes.Investors should research the SEV and the Non-Homestead property tax millage rates to project what the property taxes will be after adjustment.

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.

I hired a contractor with a solid reputation for working with international investors, and we agreed on a total cost of $495K, to be paid in stages.

As large investors entered the market to acquire single family houses, our margins were squeezed and we ultimately could not maintain our target investor returns as the market totally changed.

I have given this renter Dave Ramsey's book The Total Money Make-over but I doubt they have read it because they have never mentioned it. 

In a total package deal for a single family or multi what do you look for?

Because it equals the total value of the units @ $268,750/unit so something doesn't make sense. 

If it was purchased cash you can do delayed financing immediately, but it would be based on your total capital invested not current appraised value. 

A total cost of 6.3Mn over 23 units equates to 274K/unit...this appears unbelievably low for San Diego...I'd want to see full development budget detailing hard, soft and financing costs as well as month by month projections showing construction and lease up cash flows.What's the 2.2Mn purchase price for?