It's 5 million gross before expenses and then you have endless calls and taking your time.I have a news flash for everyone.

@Jacques CaspiTo succeed in real estate investing, I’ve found it’s crucial to budget for unexpected expenses, focus on thorough tenant screening, and build strong relationships with contractors.

I think behind tenant screenings and leases there is a quality of a landlord that's also as a person that is the respect for a good person and the intelligence of making fair affairs.For me for ten years in the past I had a house of 650sqft (two rooms and cozy kitchen) where I always have been giving away one of the room for others who were asking for help for themselves and I didn't had any earnings for me by that, and that has been during for many and many years, meanwhile I was surely needing more space for me, for my business in a studio and for my own personal life I eventually could have been having.Nonetheless this, on last years I had no more an house and I needed a room for rent, but even before any screening the landlords were being unrespectful and very unreasonably severe to me, they often had making me lose so much time by no taking or going away to the point I had no other choices in the end, and they set me in the wrong places for me, dangerous ones, too small, too big and very expensive, unhealthy ones or not providing anything at all when it was obvious they needed to.To me this kind of behaviour is very wrong, mostly because usually they are the same people who pretend respects and acts as they are very careful and attentive to housing situations in general, but with me, they have been lying above anything and just disrespected the person at a human level. 

Built in the last 50 years but before 1990.Currently rented for <$7000 gross but could likely be raised to >$8000.Expenses are as follows:Taxes - $13,000/Yr or ~$1083/MoInsurance - $3100/Yr or ~$260/MoMaintenance, Repairs, Vacancy, Trash Removal - ~$1000/Mo.Now, seller wants 850k & 10% down, interest TBD.

Moving walls usually requires figuring out what is or isn't load bearing and likely putting a large and usually expensive header.

Therefore, I want a partner because I have had success in multiple markets in the south, west, and east to help with those expenses so I can help more sellers.Can you share more information about private lenders or what strategy may be optimal? 

The best way to estimate expenses is experience and knowledge of your specific asset type and market.For vacancy, that will depend on your market and the quality/desirability of your type of unit.

•Operating Expenses Account: For monthly expenses.

I would also look at suing them for the cost / expense to finish the job. 3.

We just closed in late Dec so the financials are a work in progress but we’re projecting and tracking closely to a 55% expense ratio and should have about 11% CoC in year one through the renovation period as we get more renovated units online.