nailed a massive plank across BOTH the entrance doors.

The name of the game is to get filled up fast and stabilize and then sell or refi off 1 to 2 years later.450 X 52 = 23,400 month X 12 = 280,800 gross expected annual income.Back off 50% costs if landlord doesn't pay water or utilities. 280,800 x .50 = 140,400 NOI at a 10 cap for resale that is 1,400,400 before resale expenses.700k + 52 units let's say 10k a door rehab = 500k 700k purchase plus 500k = 1,200,000You would really have to nail down cost per door rehab and the exit cap and lease up rent.

Well, Brian nailed that!

For me you hit the nail on the head.

Better stop, look around, see what's going down and get with an attorney before you get nailed on possible fronts.

How was the ceiling attached nails?

Steven hit the nail on the head, there's an awful lot of knowledge and experience on this site so ask questions, read forums, meet fellow local investors at your REI meetings and you'll become smarter and more connected in no time!

Nail it, then scale it.

@Melodee Lucido hits the nail on the head.That is a REALLY small list and it is only the first piece you sent to them.

You can't overpay for the place in case you need to get out from under it, but as long as you can sell at retail without losing money it isn't a bad deal at all.The 3 things you need to do it 1) see the place to see if it needs work, sounded like you will see it soon for this. 2) you need to nail down what the current value of the house is so you know if $85K is any discount, right on market or if it is upside down.