If you're driving to work, you know there's risks, you could get into an accident, somebody could rear end you, get out the car and hold you at gun point, I mean should I really get into it?  

There is a bathroom with a utility sink in the rear corners.

You don't just park your rear in a seat and listen to someone tell you/sell you the newest latest greatest technique to get "Quick Riches" with no credit or money.

There is a significant amount of deferred maintenance on the building, and as such, the rent are $80-$100 below market (though it's difficult to raise them because we have rent control that limit the rent on occupied apartments to inflation - unless the apartment is vacant, in which case I can raise it to whatever I want).The seller's agent has suggested that the building needs about $80K of work to get it in good condition, and here's a list of some significant items:-rear wall (east facing) has had bulging brick veneer removed and is ready for new siding or brick-roof currently has a leak around the chimney - needs to be sealed and drywall repaired in one area (potentially would make more sense to remove chimney and vent boiler out exterior wall)-one vacant unit (2br) now could use sprucing up in bathroom and paint/flooring throughout -one unit coming up for oct 1 (1br) could use upgrade in kitchen and bath and paint/flooring throughout -common areas could use some sprucing up - paint, maybe lighting, entrance door, perhaps flooring to improve 1st impression I've owned property before, but I am no handyman, so I'd need a general contractor to walk with me through the building condition.

We just purchased our first rental property, a 4-unit, all 1bed/1bath, coin laundry in basement, and 4 car garage in the rear. 

So if someone could find it in them to help a youngster find the right way through this maze it would be greatly appreciated.

Joshua Olmeda I'll be the old grizzled guy who shouts at the youngsters saying "YOU NEED RESERVES!"

The tenants has expressed a frustration with the parking situation because there are 16 units and 16 parking spaces in the rear of the building which means each unit is entitled to a spot which currently is free.

If they didn't do that, they would starve when winter arrives.The Future is VERY important.Another analogy I like to use is to Drive your Investments like an Investment Vehicle.When you look at past Data such as previous Sales, you are looking at the Rear View Mirror of your Investment Vehicle.When you look at current data, such as the current Rents and Expenses to calculate your Current cashflows or your Cash on Cash Return, you are looking at the side view... watching the action go by as it is occurring.When you look through the Windshield of your Investment Vehicle, you are looking at the road ahead.... seeing the path that it is taking you... and all the obstacles in the way.You are less likely to CRASH your investment vehicle by focusing on looking through your Windshield than remaining fixated on the Rear View Mirror or the Side Windows.If the bridge is out and you fail to see the bright red warning signs..... if your eyes are not looking straight through that windshield........ you will Drive your Investment Vehicle into the abyss down below.So please.....

A rear door entrance made the house conversion fairly inexpensive and of course created 5 separate rental units and of course more income.Obviously, my basic idea was to purchase three rental units at the regular 3-unit price, knowing all along I would be able to modify them and quickly start earning 5 units worth of income.