A roof, HVAC, and foundation on a $80k house cost the same as a roof on a 250k house (assuming a similar size but better location) with a similar PITI to rent spread.

If the landlord's lease with the other tenant provides that tenant the exclusive right to sell certain products or services at that location the landlord might have put themselves in a bad position.

@Paul CijunelisYes, this property is located in indy.

@Mary Lopez call 5-10 local community banks or credit unions where the property is located and you’ll find at least one that can work with you.

I won't veer from my qualifications-- quality location, value add opportunity from the get, proper price entry point.

But based on the location and the market I am thinking that is probably still too high.

@Joe BellevilleTo build a successful multifamily property portfolio in Grand Rapids, set criteria for property type, location, and budget, build a team, analyze deals using the 1% rule, leverage house hacking, leverage local knowledge, prepare for tenant management, network, and focus on long-term goals.

Depending on where this rental is located, you'll want to make sure you file it with the right court (Magistrate/Superior). 

Hi BP, i’m curious if anyone has moved an electrical meter without upgrading service. i recently upgraded a meter and was forced to move it to a new location however now i can’t pass inspection because the service enters the building before the meter (only good route to get to new meter was indoors) i really want to avoid a new electrical drophas anyone found a way to enter the building before metering?

If you're in our area I would love to connect and learn.Side note - Lansing (the capitol) was not a location option.Shawn