I don't have an exterminator that I can recommend (my boyfriend takes care of this task) but I always advise property owners of multi family units to be proactive because they are such a problem here in this area.

As I am looking to do a 1031 exchange and seeking my first all cash wholesale purchase for the first time I started searching the internet for pointers.  

This book helped me see things more incrementally and to focus on the task at hand.

I actually found Charlie Reep by looking on the Internet before reading Josh's post above, but he is great.  

@Jose Castillo,Can you multi-task?

Rental Monthly Income $4,800.00 (8 rooms x 600) ------- 4800 x 12 = $57,600.00 Monthly Gross Operation Expenses Mortgage950.00 Taxes191.00 Insurance 166.00 Maintenance Housekeeping 216.00 Landscaping 60.00 Repairs 10% - 480.00 Operational Electrical 350.00 Water 150.00 Cable/Internet 150.00 Reserves 10% - 480.00 Total - $3,193.00 Annual Gross Operation Expenses Mortgage11,400.00 Taxes2,292.00 Insurance 1,992.00 Maintenance Housekeeping 2592.00 Landscaping 720.00 Repairs 10% - 5,760.00 Operational Electrical 4,200.00 Water 1,800.00 Cable/Internet 1,800.00 Reserves 10% - 5,760.00 Total - $38,316.00 57,600.00-38,316.00______________NOI $19,284.00 19284.00/46,000.00 (down payment) = 41% Cash on Cash Return (CCR)

I would buy somewhere where I know the market and have a team that I trust.My main concern would be to not lose my money because I went into a market that some strangers from the internet recommended.Good luck!

I agree, the rent should match fair market value, but the unit could use an updated bathroom, paint, & other cosmetics.Are these easy tasks to accomplish while the tenant lives there or should I consider paying for them to live elsewhere during the reno work?

Some loans may provide the money before the task, with the money for the next task not being released until after the previous one is checked out.  

My wife and I operate an internet based printing company.