Hello: I have an opportunity to acquire a 24 Unit Apartment Complex for a price $2,500,000Income: $21,181 /MonthExpenses: Water, trash and sewer is $1,375 / monthElectric, $300 / month Alarm, 100 / month Phone, $50 / month Taxes, $5,700 land and $15,400 improvements Wear and tear, maintenance, $650/month Insurance $500/Month Cap Rate 8.9%Option 2:Acquire the adjoining lots for $2,000,000 for 2.5 Additional Acres for Development of up to 70 units.Looks like cap rate are 8.9Can you provide your thoughts on these two deals?

Sorry all for the false alarm and for the false excitement..

In the El Paso area are population is increasing however it is due to births and immigration, migration out of the city is very high for high wage jobs.I am considering investing in this area beyond my primary home and these graphs are alarming, on one hand it spells opportunity for a lower price but other hand not much opportunity for investing if this continues.How should I view this situation?

Does it have a fire alarm system and if not does it need one?  

We have to comply with the existing fire laws and we needed to get the fire alarm system in compliance but not add sprinklers. 

The machine was so loud that I never heard the smoke alarm go off from all the dust, and was rudely interrupted by the police and fire trucks lights outside my window. 

One of the perks of going full time in RE is waking up without an alarm clock.

Anyone in DFW area and investing in apartment should know this one because there are only a very few on the market in the entire DFW area.Build in 2000, tax office value 750K, asking 2.5 Ml.Only information the seller willing to provide isCurrent Monthly Rental Rates: 1 BR, 1 Bath 650 sq.ft : $715 Plus Electric & Water 2 BR, 2 Bath 840 sq.ft : $895 Plus Electric & Water 2 BR, 1 Bath 720 sq.ft : $795 Plus Electric & Water 3 BR, 2 Bath 1040 sq.ft : $1050 Plus Electric & Water Income: $21,181 /Month Expenses: Water, trash and sewer is $1,375 / month Electric, $300 / month Alarm, 100 / month Phone, $50 / month Taxes, $5,700 land and $15,400 improvements Wear and tear, maintenance, $650/month Insurance $500/MonthAnd he claim the cap rate is 8%

One of our units had a break-in earlier this week and the dog is what scared the thief away.  

YeahI know its like I show up to a 3 alarm fire with a squirt gun!