It took me less than a day to clean up the catsup; sweep, vacuum, shampoo, and mop the floors; skim coat their etching in the wall and touch up the paint; replace two broken outlet covers; etc.

Personally (and I think a lot of people here would agree), a return like that isn't worth the effort of having to manage the property (you could get a slightly smaller return from a savings account), and the big risk is if you have any deferred maintenance or unexpected expenses, at which point you could easily go cash flow negative.While I've seen a lot worse deals asked about on this forum, this one isn't particularly great...especially in this market where great deals are available on every corner.

For every item I knew needed to be fixed or replaced, 4 more unexpected items turned up.

Check it Out!Lets

Extra outlets, especially in the likely location of an entertainment center, and other typical appliance concentrations such as kitchen counters and potential office/study areas, and garages.

But I think people will enjoy it.Also going to print out some window decals for the site and hand them out.Hopefully target media outlets to write a quick story about our "start up".

(When I say Complete, I mean new Hot Water Heaters, New Furnaces, New Roof, New Windows, New Doors, New Carpet, New Paint, New Light Fixtures, New Electrical Outlets, New Bathrooms soup to nuts, New Kitchens, etc).

You should also keep this letter for future reference, since things in life have a tendency to change unexpectedly.

I'm planning on having properties in LLC groups owned by a corporation, my hope is that it will limit liability to each properties.The biggest thing i've learned in the past year and a half has been underfunding investments, our apartment complex has cost us greatly from unexpected repairs, thankfully this secured line of credit will allow us to have more than 10 times the expected ammount(s) to rehab each property per time.

On a side note, shouldn't we see some crazy community improvements as a result of the unexpected tax revenues throughout the early 2000s?