@Derek BellWhat would the after repair cap rate be with a 362,000 NOI?

Some will assist with down payments or closing costs and only require you watch some videos to become a better informed buyer, so win-win.

When you don't have money for a downpayment, you should not be trying to buy a home because no matter how you do it, you will be overleveraged and have no reserves for repairs, etc.

:) Its generally a good idea to know the condition of a property or level of expected repairs so you can anticipate those repairs and build them into your bid for the property.

As for the extra dollars unaccounted for, it could be a number of things - repair persons fee, management fee, failed repair, etc.

Too many people are scared of townhouses and condos, but you are protected against a lot of the repairs of single-family or multi-family ownership.

The house needs a lot of work with repairs and upgrades.

The more you know about what is involved in renovations and repairs, the better suited you will be to take on any project.But, real estate is capital intensive.  

Thanks,JaredI'd only pursue this if there is an big upside for appreciation, or if you planned on keeping the house forever as a rental.Run the numbers, subtract 15% a year for vacancy and on going maintenance and repairs during each year, subtract 15% per year for maintenance and repairs to get it market ready once you decide to sell it.Example if you were to keep it for 5 years and sell at the end of five years:12x$200=$2400 year gross profit15% for vacancy, maintenance, repairs ($-360.00 per year)= $2040 gross profit per year15% set aside to repair, repaint, replace to get ready to sell on market = $1800 $7000-$8000 net for 5 years of rental.Appreciation over the term you would keep it would be the only incentive, and it could be a big reason why to rent it.

How much will be due in repairs over the next five years?