I am looking at the following deal:Address: 4116 Jason Rd, Spring Hill, FL 34608Asking Price: $650,000Property Type: Multi-Family | QuadPlexBedrooms and Bathrooms: 8 Beds and 8 Baths | 4 UnitsSquare Footage: 4,644 Sqft | 4 UnitsCurrent Monthly Rent: $5,525"This property comprises two fantastic duplexes built in 2007, which share a lot and feature a private screened-in pool.

I saw a lot of potential even though there was much deferred maintenance, poor mgt. and significant water damage in one unit requiring complete rehab.

The HOA covers all water, flood and building insurance, internet, bug spraying etc. and it's $1562 a month.

You need some descent reserves to be a larger landlord, because you don't get a choice when the AC unit goes out, or the hot water heater floods the upstairs unit that then floods the downstairs unit.  

This type of foundation is extremely porous and lets in a lot of water.

I can think of mortgage, taxes, insurance, STR insurance, water/sewer, electricity, trash, internet/cable, cleaning (can pass through), supplies, and software.

Then we started having issues with the city code enforcement and water company and being fined.

The ones I bailed out I actually took ownership of.. and got them out of hot water. there was no room for a loan but enough equity for me to step in and solve the issues.. 

However, one recent sale in the area was 109K for a .15 acre lot, however, it was verified developable and had gas, electric, and water at the street.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.