Even a typical water heat replacement would set you back signficantly.There's plenty to the puzzle that i am unaware of but with what you've outlined here i would consider passing on the property.you know you need managementyou know you need to remove at least one tenantyou know cashflow is meager after considering management.i personally wouldn't recommend a client take on the risk for such a paltry pay out out of state.Even when considering long term appreciation the average amount of headache one assumes with a property will bog you down before the long term play pays off.

As you look toward your next property, I’ve been reflecting on how crucial it is to leverage opportunities effectively in this market.One thing I’ve learned from my own experiences is the value of collaboration.

For the gas stove, start by removing the grates and soaking them in warm, soapy water.

As I'm moving through the house cleaning everything, I'm better able to notice what needs to be removed/replaced, and every other little defect.

For instance, one property seems to have an extra bathroom that is not listed in the county records.I plan to make some modifications, including removing a closet wall to expand a bathroom and taking out a kitchen island that contains electrical outlets and a switch.

Hi John,To effectively gather a list of multifamily properties for your marketing mailers, here are some resources and strategies you might find helpful:- Reonomy: This platform allows you to search for multifamily property owners based on various criteria, including location.

The few that I looked at but didn't buy would have had to have all of the wood removed and anything else that smelled of smoke.

From what I hear, cold calling can be effective but generally it'll take 200+ calls to land even a few possible leads.

Update for Chicago investors : As of right now the ordinance takes effect 11/9 but any property under contract before then is exempt.

If they violate it again, demand they remove the animal or terminate the lease and leave.Assistance animals are not allowed to damage the home, poop in public spaces, run loose, intimidate or attack others, etc.