I proceeded to the basement and then out to the garage and to the yard to take care of the irrigation.While I was there, I noticed that the water softener bags that I had bought the tenant as well as the new air filters for the 18-month lease were still on the floor next to the respective units.

The US stock market is in a free fall and just a few points away from being in a full blown Bear Market, and our R.E estate market is certainly softening.

You can probably find an up/down duplex in Perry or Plain townships for $150k or less, especially now that the market is softening.

Plants/mulch in the middle—maybe defined by railroad ties and or stoneEither change red or add highlights around it to soften the contrast?

Watch this to change as interest rates adjust and market conditions soften, right now I haven’t seen any slowdown personally though.For single family I agree with the simple logic of making sure you net enough to cover hard times

However, my hunch is that prices with soften in the short term but I'm bullish Hawaii real estate long term.  

While some Bay Area markets, including Walnut Creek, are definitely softening its tough to pick a bottom.

In other words, each month there will be tenants who do not pay their rent -- this isn't technically considered a vacancy expense, but is just as bad.Depending on your area/property, rent loss can be as much as (or even more than) vacancy loss.If you want to model this, assume at least 8.3% vacancy (one month per year per unit).Also, as Mike said, if your expense ratio is much below 50%, you're missing something.And a 7% cap is probably over-paying, considering the market is starting to soften for multi-family properties nationwide.

Getting with the right lender who can close your loan on time is key.Lenders are getting aggressive lately as the market begins to soften.

With the softening of the market, I'm anticipating a lower ARV was when I originally analyzed this property, and now I'm thinking it's realistic that I'll net $10k-$15k.