Purchase price: $241,000 Cash invested: $20,000 Turn-key investment property, with some Capex work including updated roof and lite plumbing fixes.

That included using Fire caulking or fire foam to seal off any air ways from the 1st floor to the second.   

Census Bureau and Department of Housing and Urban Development just dropped their December report, and it’s big.

By contrast, we just teach “stick to good underwriting, using title reports and escrow and having sufficient capital to make sure the seller is cared for”.

And I like the reporting (how far in advance are people booking, etc.).  

So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up.

Quote from @Jim Stanley: You should reserve insurance for large claims.Contact the city and report the issue to them.

Here are some key elements to include:Lease Agreements: Ensure your contracts reflect the latest laws, such as notice periods for entry or rules around security deposits.Fair Housing Compliance: Familiarize yourself with federal, state, and local fair housing laws to avoid discriminatory practices.Property Standards: Regularly inspect your properties to ensure they meet safety and habitability standards.Tax Documentation: Keep accurate records to comply with tax reporting requirements.4.

Consumer reports even has a report about how they're better than all the $300+ toilets.

Hello AllI have a opportunity to purchase a 3 unit rental property. how should I structure the offer and what should be required in it.Does the seller provide a fee and clear Title with Title insurance, should the seller be required to evict the tenants before I purchase, what verifications or contingencies should i include. etc......ThanksJeff