During the inspection, which the sanitary company does, the inspector asked several question and came to the conclusion that at least the bathroom had to be new and requested a permit to be pulled and gave me a stop work order.

@Jerard Graham I had a decent amount saved but if you do a 203k to house hack like I did you don’t need as much in reserve because you lower your risk by having your tenants pay for your mortgage.As far as the numbers you should know, I go by the back of a napkin criteria that Chad Carson uses also.

I learned of the sewer problems while talking to the next door neighbor and confirmed it with a FOIA request to the sanitary district.

My initial stab is to package all four of these up and attempt to purchase so that rents would be 1% of purchase price (actually slightly higher to allow room for my wholesale fee).My cocktail napkin math shows that rents equal $7,600.

I give it to my less-than-sanitary tenants when they get 'issues'.Also get a mold spore testing kit.

Sanitary sewer?  

I'm still amazed at how much information (Tax returns, Bank Statements, Pay stubs, etc, etc) that folks give me for their Conventional Loans but they'll hardly write anything on a cocktail napkin for their "killer deal" when they go to a Private Money lender;-)On the other hand, give me an address and I can usually tell you, if it's a good deal.If you have a package and get it to the head or staff of the local REIA like ours near Boston, Massachusetts, they'll find an investor for you ASAP (or let you know why not).

I have heard of deals written out on a napkin over lunch and submitted to a title company.

Hi Evelyn,If you are running "back of the napkin" numbers for property insurance a good estimate would be about 4% of the annual gross rent.

At the commencement of your tenancy…The landlord (Us) will provide a home that is clean, sanitary, in good cosmetic shape, and in good working order.