That $40,000 monthly gross income from them will be extra sweet when there are no longer any principal and interest payments left.

@Cameron Belknap FHA loan rules in HUD 4000.1 mention not counting the basement as part of the Gross Living Area; however, part of the FHA requirements found in HUD 4000.1 includes a section on “converted spaces” which states:“The Appraiser must treat room additions and garage conversions as part of the GLA of the dwelling, provided that the addition or conversion space…is accessible from the interior of the main dwelling in a functional manner; has a permanent and sufficient heat source… and was built in keeping with the design, appeal, and quality of construction of the main dwelling.”Furthermore,“The Appraiser must analyze and report differences in functional utility when selecting comparable properties of similar total GLA that do not include converted living space.

This is my first post and I’m looking to acquire a 16 unit apartment complex in El Reno, Oklahoma.I‘m located in Seattle, WA so I‘ll need a very reputable and trust worthy professional property management firm.Any ideas on fees, I‘m thinking 7-8% of gross rents?

NNN (all), Modified Gross (some), Gross (none)).

This amount of cash flow adds up fairly quickly on these smaller deals that only gross 40k per year. 

A triplex around the corner is fully renovated on the market for 1.1 million, gross rents of about $6,400 and we are a two hour (with traffic) commute from SF.I guess the alternative would be to deploy that 100k across more than one property at a time utilizing financing (i.e.

So the “WHY” would be gross negligence. 

Currently the lot rent averages aprx $165 lot x 14 lots = $2,310/mo x 12 months = $27,720 year gross income. 

Current Gross IncomeCurrent Expenses, with Taxes and InsuranceHow long are the tenants' leases for ?

My projected gross annual income in 2024 is ~$130,000 (with all things added in and a few assumptions made).