Originally posted by @Tom Gimer:Tom I have been approached numerous times on BP  and other things like Linkden and facebook by faux lenders I go ahead and let them  go through their elevator pitch what they do and those that really don't know what they don't know about the world of lending and finance is they provide things that we know are not germane but the person they are targeting gets impressed by those items..

If those are wood floors, you may have saved quite a bit using faux wood tile.

Faux stone siding could be an option. 

I've worked in a Jewelry business many years ago and my boss once told me, "Never trust anyone".

Looking to get some clarity on this matter -- a lot of people on BP suggests a percentage method, which I think can be a miscalculation for cheaper and older SFHs because a lot of capex is fixed, but rental income, size of house, vintage of house, type of neighorhood factors into the calculation.

Here in LA I have a single vintage airstream in my backyard that I air bnb and it’s been good so far..

I can tell you that the house next door which is 1930's vintage and is a big old farm house with 4 bedrooms and a couple bathrooms and had a oil boiler with radiators was just retrofitted with a gas furnace and vents run throughout the home so they can also add central air and they were quoted $24,000 by a local HVAC company. 

All the properties I purchased were built around the 1940-1950 vintage.

Plus I think Andrew will agree there are all sorts of FAUX lenders out there or out right crooks they will contact you with deals to good to be true you just don't know it.. 

Account ClosedI'm in Boston so most of the properties are old (vintage) !