Also, does any owners of units simply go through and replace the anode, thermostat, and heating elements for less then $100 in materials and find that has proven to be a solution to get the units to last another 7 to 8 years?

You can control and budget your own CAPEX some for interior elements (like your own floor laying and the above schedule, for example) but for the association not so much.Condos are odd ducks, too.

@Brandon Phelps , by doing a 1031 you won't have a lot of time to identify properties, so If you want to run the business, you could get a package of properties that all together are valued at at least 1.2million, or buy one property at that price that will give you great cash flow.

If you’re interested to take a peek at my underwriting and current and future deal packages, feel free to PM me so we can block some time on my calendar and talk things over.

What are the shared elements of this property?

If you buy a pre-packaged product, you can't change any of it's processes, your stuck with it.

I know I looked at a package of properties to purchase over the weekend and the landlord we met with insisted that he ran a tight ship and said all his tenants were current.

Stories and stories about his airplane experience, some examples about pre-foreclosures and foreclosures BUT only would work as he says if you get his Diamond Package, otherwise you won't have access to it.

Do you have the time and skills to source the property, perform a successful rehab, and get a good tenant in place, or is that time and knowledge better just bought in the property package?

Also this property was packaged with the property next door that is also a duplex that we will be turning into a triplex.