I didn't have a renter so I had holding cost, utilities and mortgage until the second week of September 2022 when I finally found a renter. with in six months of ownership the roof started to lose shingles and was leaking, had a roofer to check out the damage and found wood rot underneath. fought with the insurance company to see if they would replace it with a new roof they said no after sending their own inspector and said that the roof was already too old.

A biggie- My yard has dog stuff in it, as well as other items I will take with me, ie floor tiles and extra shingles for the other house, tools, etc.

Nearly every house is old meaning lead paint and asbestos shingles, floor tiles, possibly some attic insulation like vermiculite.

If the seller says, "it needs a new roof", does that mean just shingles or does the decking need to be replaced, as well?

We searched for a few months for a qualified contractor to repaint the top shaker shingles on the home.

We had a roof with a back dormer which was a low pitch while the remaining roof was shingle.

You are correct on the heat build up and shingle curl.

Average monthly income is up 15%Went from cash flow negative (-21,000) in 2014 to cash flow positive (7,000) Cut physical expenses from $63,000 to $21,000Added one rentalRepaired one roof and re-shingled another Next Year's GoalsGuttersTurn a few property over to property managementBuy one rentalIncrease emergency fund to 6 months expensesWhat about you all?

Anyhow I am up for the challenge.So enough about me and on to the property information:Asking Price= $1,500,000Recently renovated with:New 30 year shingle roofNew Pex PlumbingUpdated wiringThermal Windows2018 2 Ton HVACsBrand new appliances in all units including washer & dryerGranite Counter tops in Kitchen and Bathroom18 units each 2 bed/ 1 bath, 795 square feetThey are estimating each unit will rent for $800/month.Here are my number I have worked:Annual income at full occupancy= $172,800Annual Property Taxes= -$1,416Annual Insurance= -$5,000 (the owner of the property said this was his best guess)Annual Property Managment at 10%= -$17,280Annual Maintenance/Cap Ex at 20%= -$34,560Annual Vacancy at 5%= -$8,640Annual Landscaping costs= -$1,800 (current owners rate)Total Annual expenses= -$68,696NOI: $172,800- $68,696= $104,104 before mortgage.GRM: 8.6Cap Rate: 6.9%Based on this information it seems like a decent deal I am just lost about finding a commercial loan and where to even start in this process.

New roof: Tile $10K, shingle $5K.Int & ext paint: $5KThe average 1,200 sq/ft, 3/2 runs from $20K-$30K to rehab.