While the 20-25% cap rate properties look appealing, it masks the problems associated with buying a property so cheaply (Unforeseen maintenance costs, tenant turn over, and etc).

I too find the 1/1's for some reason just seem to have higher turnover too.  The

I would suggest you to get good masks if you are going to do DIY renovation in this condition.

By having 100% equity in the eyes of the lender, and usually at least 25-30% based on our cost, we can refinance to get not only our initial cash back (which we use on the next house), but also we can "cash out" part of that equity...which allows us to be proactive in covering the maintenance, capex and Property Management.We pay the PM for a year upfront and get it at 8%, so we are actually covering our interest on the loan with the savings too.  The

I've got another one of his rentals listed right now, and I'd like to help him out with this one too. The

Nope, jumpsuits, dust masks, safety glasses, put the stuff in trash bags, into the back of an old pick up, off they went.

And the cash flow looks good too. The

I still go through the MLS with a fine tooth comb every day and have modified my approach a little bit.

I just started here too the information on here is abundant I hope everything works out for you.  

If the pipe was compromised, they will have to replace the pipe which it was the case too. The