He owns and operates several STR's in the area and has it down to a science. 

At same time there operations costs are also expanding due to wage inflation naturally fallowing the "everything inflation" so yeah....

I am going to provide coin-operated laundry units in the basement of both properties.

Thanks min what market do you operate in?

These situations are tough, but staying organized and pushing the process forward yourself will make a world of difference.

My only backup plan if I can't get verified funds is to assume the worst and to drop my counter offer even lower than my original due to the risk I would be taking on, and then when I do my in person inspection try and guess what rents are fair market for the empty units, and ask as many tenants as I can what they pay in rents monthly.Seller should give you all of his bank statements for the time he owned it, plus the operating financial documents (including rent rolls)that he received when he bought.Then find an apartment broker in the area and find out about rents in the building and in the immediate area.

(especially for those involved on this website)The reason I mention if it matters on this website is because most are real estate investors(long term buy and hold) and will most likely operate at a tax loss which doesn't have an impact on taxes.The second point is, will you invest or not invest in a good investment because of what your tax rate is?

Connect with @Jillyan MacMorris she's an experienced MTR operator in Chicago

Hi All, I am a new member from the Bay area, Ca looking to invest and operate an Short term rental (STR)I am listening to the Avery Carl's audiobook. 

Your personal mission is good, but that's not operational.