I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

Currently own my first single family rental and now looking for multi family fairly new to real estate investing.

The borrower must have a good deal from which they will make a fair profit.

Most likely all new mechanicals, windows, a fair amount of framing, insulation, etc., etc.

Some fear losing control, while others are unsure how to structure a fair and profitable partnership.

Those policies that weren’t forced on the plan of last resort, the state run California ‘Fair’ Plan are significantly underinsured.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

I know this is above and beyond what most municipalities require, but being fair will make the whole process easier.Additionally, a new landlord can reduce the 60-90-day notice by offering more moving assistance (cash and/or labor) if they move sooner rather than later.

., $300 for paint and supplies) and add a fair hourly rate for labor.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.6.