Originally posted by @Donovan Castaneda:Pearline you have to complete a 48 credit hours of real state education course before you taking the state test The Missouri Real Estate Commission says to pass the real estate salesperson exam, you can : "....2) Be a licensed attorney and pass BOTH portions of the Missouri salesperson examination.

It can be done - it is done for out of town investors every day - but it is also very challenging and if the stat were kept and accurate, I believe it would show that a majority of investors who expect these to perform at their highest level are disappointed.

While you are talking with them you should ask if they manage in the area and what their rent numbers look like for duplex properties with similar stats as yours.

Drive to examine the problem  1/2 hour , drive to supply house to pick up materials 1/2 hour , drive back to house 1/2 hour , perform work 1/2 hour   There is 2 hours of labor not including materials .  

I'm examining all my options for Washington State and look forward to gathering ideas and information from you all - and sharing what I know and learn.

Sometimes you can look at stats all day, but common sense still needs to play a factor. 

{When looking at smaller multifamily (i.e <16-20 units) with central heating, the operating costs are likely to run closer to 60%)The 50% "guideline" is a quick, in-your-head, means of performing triage on a property and deciding whether it warrants further examination.  

I've been stuck with title search fees a few times this summer, so I am refining how I screen deals before sending them to the title company.For example, my last seller bought his property without a title examination.  

Not enough fat to be worth your time more than likely.3)Financing-- You stat you are 90% sure you can get bank financing without a functional septic and 100K of repairs? 

I normally do what you said: examine previous income and use that as a baseline.