If you can't figure it out, then you have to pay for it, split the cost between the tenants, or split the cost between yourself and the tenants.It's good to understand this issue and have a policy in place before it happens.

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

Just saw a well respected MF operator buy a property they have big plans for in a very rough neighborhood. 

Cash flow like this is usually D to D- areas, rough tenancies, and a groundswell of cap ex after you close and hit winter in Buffalo.

It was rough at first, but they have turned it into a really solid product.

-when figuring rules of thumb regarding payroll cost per employee/position or things like repairs and maintenance cost, contract services, etc. per door in a specific market do yall suggest contacting a property manager to find out these numbers or actually using google or job listings etc. i thought about using chat GPT as well. any thoughts on this?

I have roughly $70K of equity in it.

I got hacked on facebook so no longer on it as I cant figure out how to get unhacked but I dont miss it..

So if I was dealing with a seller who was insisting on handling the transfer this way, I would be wondering what the seller is trying to hide... and I would figure it out.

Haven't figured how to use those points and will aim to learn.