Kitchen has had an active leak- source unknown- that has damaged most of the cabinets, master shower and tub are non-functional, AC unit needs to be replaced, garage door needs to be replaced.

An average 1960’s property requires at least $65k in rehab to undo functional obsolescence.

However, if you can find a 2/2 with a den or anything that could function as a third bedroom (even without a closet), it can make a difference. 

Purchase price: $375,000 Cash invested: $18,000Converted our Basement into a Fully Functional Apartment- My only regret was that I didn't do it sooner!

Purchase price: $375,000 Cash invested: $18,000 Converted our Basement into a Fully Functional Apartment- My only regret was that I didn't do it sooner!

The contractor locator function on BP didn't seem that great as far as results. 

Is it me or does the search function in BP inbox not work? 

EVERYTHING in this business should have a function a reason and a purpose.

If you create your chart of accounts in an excel list you can basically download your banking in excel format and quickly classify transactions with consistency.From there you can sum each account and quickly run a profit and loss report.I like QuickBooks because as I grow my portfolio I have all the functions I need and I can run year over year reporting.

CAP rate is a function of market demand and actual Net Operating Income.See if the seller will provide you with three years of Income and Expense statements.