Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

I’m talking about getting thorough with expense estimates, factoring in property taxes, insurance, and a cushion for maintenance.

I’m told taxes and insurance is lot and will rise each year and cash flow is hard to come by.

I guess my problem with being too up front about seeing their place is that I don't feel like I'm in a position of power right now to decline people since it's hard enough to find people that I want to even get to that point in the application process in the first place, but I have to snap out of that mindset and have to instead come from a place where I make them believe that I have a lot of other applicants and that it's my standard policy and it's something they'll have to go through if they want my place.....ESPECIALLY if I decide to only take 1st & security from them rather than 1st/last/security.Thanks again!

I’m very sent several notices to all the tenants in that building regarding the no smoking policy.

  $31k after tax annual income - $11k rent = $20k or $1,600 per month net income left to cover all other expenses (utilities, cars, insurance, groceries, kids, activities, etc.).Median household income for 38128 is $41k or $36k after tax

I always let them know what I am doing and let them know about airbnb insurance or let them know that you will take care of repairs that tenants will do. 

Companies are having to set aside a certain percentage to cover the Cap Rate insurance and as an abundance of caution with these interest rates- class B are paused.

Rhino is an insurance program, and I do not recommend them.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).