If you can get it for 2k or less try to partner with a developer to tear down and build.

You don't mention the square footage, but given those numbers, it's almost possible to tear down, rebuild and still make a decent profit (at the $250-300K ARV)...I certainly wouldn't pass on this one without seeing it...

So maybe some didn't understand but i already found out what I need to know.As far as the bashing on here this is why a lot of people stop posting on here because this is a site for advice not for people to bash or try and tear someone down that have plans and goals in motion.Thanks to everyone that gave great advice and if i would have know about that conference sooner surely would have went to network.

Vacancies, potential evictions, insurance, repair costs, damages and wear and tear on appliances/carpet/everything else could eat into that $400 well.But $400 a month isn't too bad assuming the repair costs are low and it's a newer house or renovated.

I have concern that with a parking lot that bad prospective future tenants will not want to live there if it means tearing up their cars!

Anything more you get large families and more wear and tear. 2 and 3 bedrooms are flexible and hit a large spectrum of renters looking for a house.

So if it is zoned RT-4 but taxed as 7 units then it is considered "legal non conforming" which is perfectly fine EXCEPT when you, the owner, destroy/tear down the property then it must be rebuilt to conform with the new zoning.

Now, the government is trying to get the money to tear down the houses!

...every time you watch the nightly news' "disaster of the day", instead of shedding a tear you wonder what the implications on the real estate are...

(your muscles have little tears when you lift, then are repaired when you rest.