Duplex - C Neighborhood 40k - Purchase Price - 25% Down ~10k4k - Closing6k - Roof Repair1.7k - Misc Upfront repairsMonthly Expenses/IncomeUnit #1 -  $450 - Currently rentedUnit #2 - $450 - Vacant157.40 - Mortgage129.17 - Taxes90 - PM60.42 - Insurance, although this might change66.67 - Water90 - 10% - Maintenance and Capex90 - 10% Vacancy45 - Lawn Care/Snow Removal Net Income - 171.35The initial inspection showed a few issues, biggest ticket item being the roof which I was already aware of so I decided to proceed.

You most certainly can sell the building before it is stabilized, but buyers will discount the validity of the buildings performance.So, to figure out the {potential} value of the building you need to:1) Determine your revenue:determine what is the market rent for each unit type in the building and calculate your scheduled rent;determine the market vacancy for the area (for each unit type) and calculate your anticipated physical vacancy;Subtract the second from the first above and you have your {projected} effective gross revenue;2) Determine your total operating expenses:These include: property tax, insurance, yard maintenance / snow removal, electricity (house metre), oil/gas (if common heat); water/sewer, garbage collection; janitorial service; maintenance (10% of effective gross revenue); Property Management (7-10% of effective gross revenue); advertising, accounting & administration, etc.3) Calculate your Net Operating Income (NOI): Effective Gross Revenue - Total Operating Expenses4) Now you need to determine/learn the price being paid for similar (i.e. same class of building) cash flows in the local area.  

with all the snow that we've been having in Montana it easy to find home based on the if the drive ways and side walks have been plowed.

I'm concerned your maintenance number may be a little low as that's a very old building and you will have lawn/snow costs for a multi unit.

The only way you'd be able to expense the repair costs is if the service co billed you directly for a portion of the repair and you in turn rented 2 spaces from the other owner.He probably also does the snow removal for his entire area.lots to consider.. what's it worth to you to keep the use going forward.We had a similar situation, shared drive,, between a 6 plex and neighbors 4 plex,, skinny driveway lot line was like 60 / 40 and only 9 feet wide.. so when it came to repairs,, we finally agreed to split the portion just as that,, we each paid the contractor separate and met him with cashiers checks day of service.. so a lien could not have been put on for unpaid services.  

The HOA was responsible for the roofs, exterior issues like squirrels creating holes in the logs, snow removal on roadways within the resort, trash collection and trimming trees throughout the resort.

Don't forget insurance and don't forget things like landscaping in the summer and snow shoveling in the winter.

It could be from heavy snow or rainfall or possibly plumbing issue.

Hit lawn care in season, snow maintenance, heating oil, outdoor maintenance are all seasonally adjusted to hit your expenses appropriately as would be incurred.You should be able to get actual utilities, I add 2 or 3% as rates increase.

They were "snow birds" and when they came back to their Palm Springs condo, mold had taken hold up the sides of the drywall in every room!