PLEASE point out any errors/misassumptions.Deal Information As It Was Given To Me:2 brick buildings24 units total Price $760,00022 2-bed rooms, average monthly rent = $5002 1-bed rooms, average monthly rent = $450Every unit has a seperate gas hot water tank + seperate gas heating furnacesAnnual Rent Income = $141,720 (Building would have to be at 99% occupancy for the past year?)

Ryan - The DB may have had some errors before.

Learn from other people's mistakes, adopt and adapt proven systems, don't do the trial and error yourself if you can help it.

If you gross rents are $2500, a margin of error of 10% on your expenses would result in a $125 difference in cash flow.

Basically I’m a newbie and would love your feedback in regards where to start in the real estate investing business. I live in Southern California and would like to capitalize on the market here.
Thank You

I have had banks unwind auctions before in error, but never when they said they refused to accept a bk.

Yes, follow Wheatie and Michael's advice and move on unless you can get it for under $300K.Josh, at the risk of sounding condescending, your email is full of "rookie" language that will get you in trouble.

Better to have an especially juicy deal for the first one, to give you some room for errors.

But, worse they had errors in their reports.2.

My name is Nick and I am a rookie when it comes to real estate.