The only thing is we have kept rent the same amount for the past 10yrs, $1450.00.

I knew these units needed a renovation and I am excited to get them rehabbed and get more juice to squeeze from them.The one I am currently doing will profit me another 200-225/m moreThe one that is vacant the 31st of this month will profit 400-450/m more which is no small amount. 

These should be reflected in the purchase price or negotiated as part of the terms, such as the seller carrying some of the renovation burden.Use seller financing to your advantage by proposing a price closer to $225,000-$250,000 with terms such as 20% down, a low interest rate (4-5%), or interest-only payments for 3-5 years, with a balloon payment once renovations are complete and cash flow stabilizes.If the seller is firm on price, consider negotiating higher down payment terms to reduce the financed amount, paired with interest-only terms or a price reduction tied to renovation milestones.Key questions to address include the condition of the septic system, which can be a significant expense if it fails.

McKinney and Princeton have been growing a lot and it is a good place to invest, but it is always related to what you are looking to achieve in a rental investment, appreciation or cash flow.At this time that area does not offer a big cash flow and due to the amount of development going on there, rental demand has declined a bit.In any case you have to make an analysis case by case.

As a MF agent who spends a large amount of time calling apartment owners (or rather, numbers purporting to be apartment owners), please believe me that reaching out to random run down buildings owners is unlikely to get you any deals.

CoStar) to understand the rental market (rent amounts, absorbtion rate, etc..) but that service is fairly expensive. 

Estimated property amount is $300kWe would love to get $270k out of the property (90% LTV).Thanks for any and all help.

It normally doesn't cost you any money to open and to be able to access that large amount of equity to buy or stabalize your current portfolio allows you so much more opportunity costs.For instance, I took a $200K LOC out on my primary residence when I first started in real estate.

They’re requesting what feels like an unreasonable amount of information, and the demands keep escalating.So far, they’ve asked for:A video tour of my home officeCredit checks on me and my partnerCopies of the deeds for every property we ownA copy of my partner’s home lease and utility billsBusiness phone billsA signed letter from the bank verifying our accountsBank statementsHonestly, it feels more like qualifying for a loan than trying to become a customer.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.