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I have no more time to waste...and am thankful for finding this site.

Sold comps within a quarter mile no more than 6 months old are really a better reality check than an appraisal (especially a re-fi appraisal....those tend to go high).So if by comping the property you determine the property to be worth 160k, then at a minimum, do the following:160,000 x 70% = 112,000 - 10,000(or whatever your fee should be) = 102,000 = MAO (maximum allowable offer).

If it's really old you could have a galvanized water main going to the street as well as a host of other issues.I think 15,000 a door is about right for the size of the units and fixing the outside as well given that there are no more other large surprises that could run the total cost up.Take 42 units at 15k a unit rehab = 630,000If landlord is to pay water you use 60% for total operating costs averaged over time.

But as my experience grew that math doesn't look that hot no more.

No more pool.

I have heard that you should put no more than 2 wires in each hole to prevent arching. 

In Raleigh, it would cost no more than 8k-10k to re-wire a house like that, especially with good attic and crawl space access.  

No more ads on top, no more ads down the side.We've cleaned up the UI, to make your experience better.

In Texas for example there are restrictions that there can be no more than 7 homes per acre as a means to ensure that septic will not cause pollution (some counties restrict one septic per acre, but you can get around this with a larger commercial system for multiple homes...).