If we rent the unit at $1,425, I have an estimated monthly cashflow of $302 (rent at $1450, cashflow is $325) I DO include vacancy, repairs, and cap exp in my Box2 Expenses.

Repairs: Add a pool ($77.7K).

I thought I could solve the vagrant problem by buying and repairing the buildings.

They have since moved on to a new manager that is in close communication with me to get the repairs done and SDIRA is even offering to pay me the missing rent for December that the evicted tenant never paid.

After a bit of back-and-forth on the repair costs, I negotiated it down to $69,000, convincing them the extent of repairs was higher than they initially estimated.

After a bit of back-and-forth on the repair costs, I negotiated it down to $69,000, convincing them the extent of repairs was higher than they initially estimated.

I'd call insurance before having any sort of plumber to come do any repairs.

I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income. 

Acquisition Target: $730K-$780K; ARV: $900K; Repairs: $120K.

In real estate its messy and there are always repairs and capX projects that seemingly pop up from time to time.