Okay some of the units I am reconditioning are for the most part fine just carpet and paint,1 toilet,etc.One of the units is more worse off.They stole some of the copper plumbing but not too much.On the electrical the breaker box is in the kitchen on the main level.The 2 big wires comes in they did not touch.All the white ROMEX coming out of the breaker box they cut and took out.If you look up through the wall and into the light fixture (long shop light kind) you see they only cut out about 5 feet.My question is can't an electrician just run new into the breaker box and then connect to where they cut 5 feet out??

Over time 50% is merely a guideline.10% management10% vacancy30% operating and expensesThese numbers come out to about 50% over time although each category might be slightly more than the other depending on circumstances.Now if you have where the landlord pays water/sewer etc. you can spend up to 60 to 65% total of gross income.If you have a brand new building costs might be more in the 40 to 45% range at first.If you don't maintain then you will get hit with big capital costs down the road or a reduced price when you sell.Those units mentioned becoming vacant if they tenant has been there for years and years you will have a big reconditioning capital costs and loss of rent time period going in.

Usually I'll do individual showings, but I can direct them to two or three open house blocks during a week, often when I'm there reconditioning the unit for the next tenant. 

For basic houses like this I'll just throw out the idea of reconditioning the existing counter tops with stuff in a box for about $200.

As far as you have said all they did was a title search.I hope they did not overpay for this property.You cannot pay on POTENTIAL or on what cannot be 100% verified.If you have tenants that have been no paying to half paying it could take months before getting them out and then you have to recondition and lease up.This is why if you can't verify something to be true you bid blind based on the worst case scenario.

My benefit would be less turnover, less agent fees, less gaps in rent, less reconditioning costs for new tenants, that would easily add up to $2000-3000 vs $1200-$1600, but most importantly less stress and risk of getting a bad tenant.  

Hi all, i would like some help on what to offer on a 32 unit complex (my first).The property is located in a very good area with much sought after school district, built in 1965, 12 two bed 1 bath, 20 two bed 1.5 bath, but current owner did many improvements including, windows and doors, metal roof, plumbing upgrades, repaving, pool reconditioned,flooring, cabinets etc. the only capex i could spot on walkthroughs was the 20 ac units not replaced(recently).

I have done a lot of upgrades and reconditioning over the last 9 years of ownership. ( new roof, new a/c , tile floors, new energy efficient windows etc... ) I am thinking about finishing up the remodeling with the cash from the refi, and using the rest on a down payment on a new house and renting my current house out.

Sec 8 is probably willing to pay $850 for it (all cold flat prices), but I'm sure it would need some reconditioning, should he leave. 

I didn't withhold their entire deposit which I could have, but they did have to buy paint and all supplies for me to recondition the home to smell like a freshly painted home again.