I work in construction doing residential remodeling.

I don't have a builder that I would recommend, and I personally became frustrated enough with contractors that I started my own residential remodeling company.

I did not list the specific scope of our remodel in the warranty... regretting that FOR SURE.

The seller told me that he has remodeled the upper unit and the lower unit was remodeled a few years ago.

I've ran the numbers and they look good (conservatively around $280 monthly cash flow, cash on cash ROI of 13%) however due to the price of the home being lower ($38K plus about $15K remodel costs) i'm having a hard time getting a competitive rate..

This is common, there are usually some justified reasons to get tenants out such as a major remodel or if you plan to live in the unit yourself, however you should have read the rent control rules and had a plan in place before purchasing the property. 

I am a Real Estate Broker, Investor, Property Manager and Remodeler all rolled into one.  

Long story short, my mother lost her house, my father took over, and when he rented it to me and my buddy’s we went haywire and tried to remodel the place.

)                           -   Gross Monthly Operating Income              32,642.00 Monthly Operating Expenses Monthly Property Management Fees                   832.00 Repairs and Maintenance                1,000.00 Real Estate Taxes                5,241.00 Rental Property Insurance                1,959.00 Homeowners/Property Association Fees   Replacement Reserve                2,000.00 Utilities                1,291.00  - Water and Sewer    - Gas and Electricity    - Garbage    - Cable, Phone, Internet   Pest Control                   155.00 Accounting and Legal                   150.00 Advertising   Monthly Operating Expenses              12,628.00 Net Operating Income (NOI)   Total Annual Operating Income            391,704.00 Total Annual Operating Expense            151,536.00 Annual Net Operating Income            240,168.00 Capitalization Rate and Valuation   Desired Capitalization Rate 10.00% Property Valuation (Offer Price)         2,401,680.00 Actual Purchase Price         3,100,000.00 Actual Capitalization Rate 7.75% Loan Information   Down Payment            620,000.00 Loan Amount         2,320,000.00 Acquisition Costs and Loan Fees              60,000.00 Length of Mortgage (years)                          30 Annual Interest Rate 4.970% Initial Investment            680,000.00 Monthly Mortgage Payment (PI)              12,411.76 Annual Interest            114,527.10 Annual Principal              34,414.02 Total Annual Debt Service            148,941.12 Cash Flow and ROI   Total Monthly Cash Flow (before taxes)                7,602.24 Total Annual Cash Flow (before taxes)              91,226.88 Cash on Cash Return (ROI) 13.42% The property is being given to me after completing 40 year certification (updated plumbing, electrical, parking, most units are decently remodeled.

So are contractors have been a little shady lately . They are costing them selves money and the one came to me and said there not making anything. He hasnt been at the jobsite for 2 days left all there tools. He wont ...