Purchase price: $400,000 Cash invested: $50,000 Creative dreams realty is going to Totally renovating this house outside were doing landscaping , siding ,gutters and pressure washing inside were doing new plumbing , electric , sheet rock , doors , molding , 2 full baths , kitchen and basement .

ACTUAL Gross Rental Income: Based on Existing Rent Roll Submitted by Seller on 11/8 8 units/2 bedrooms @ 818 building $ 71,244 $ 742.13 8 units/ 2 bedrooms @ 842 building 71,064 $ 740.25 8 units/2 bedrooms @ 850 building 70,884 $ 738.38 $ 213,192 $ 740.25 Other Income-Washing Machines Est.

Rollers made for solvents and epoxy coatings work well, mohair is incredibly expensive but works best.

We have a 6-unit & had the 20yr old $1/wash/dry machines that were rock solid.

Wash some dishes, Eat some pizza in the living room, sit on the toilet, and stand in the shower.

Buy, Sell & Buy to cover gain, Sell & Buy to cover gain, wash rinse repeat. 

Typically the average is $1.50 wash and $1.50 dry ($3.00 total)3.

Perhaps I'm wrong, and I'm not insisting but from what my accountant said it's a net wash as I'm filing personal.

From what I can see, it looks like the tax rates in the Bay Area turn out to be a wash when compared to Seattle.

If you're used to self managing though, then it might be a wash for you.