Eventually all the guys moved out and I was stuck with a big house by myself but I made sure before purchasing if they were to move out I would still be able to cover all my expenses.   

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Well basically I have had connections to help with the roof on to help gut the house as well as try to GC some of the little bit of stuff I needed done but far as that just the finance guyWhat was the outcome?

What insurance company do you know covers short term rental by the room for a single family house?

5% down conventional loan with seller concessions to cover my closing costs and buy my rate down.How did you add value to the deal?

Back in the day we carried a balance of $100,000+ that was owed to us and that is now down to only $10,000 or so and we only cover out of pocket if it's an emergency.The PM must have sufficient reserves to do the necessary maintenance work and shouldn't be chasing landlords for money.Just my opinion...Also, a PM's number 1 profit center is maintenance up charge.Landlords don't have much insight and PM's nickel and dime to death on those.If you are suspicious, ask for a receipt so they aren't making up non existent maintenance.Let them make their money tho and calculate that into your expense pro-forma.Otherwise, manage yourself and deal with the $#%^@ that comes with it lol.Multifamily in Ohio, you can get for $25,000 - $35,000 a unit.Drop another $5,000 - $10,000 into the turns and rents should be North of $800pm.Decent area's also.Personally, I wouldn't get out of bed unless I'm making the above numbers.Wishing you much success

As far as I know, there are no plans to build on either lot any time soon.At the start of the renovation, we replaced the roof.

If you are looking for the tenants to cover the mortgage and property taxes, you are not likely to find anything between Redwood City and SF.

And then there are also  sewer scope fees, and if your inspector recommends other inspectors to do inspections on things like the plumbing system, the roof, the electrical system etc... those have to come out of your pocket also- if you're going to pay for them.Does your lender require a Phase 1 Enviro; How do you intend to pay for that? 

BUT, I had to put on a new roof which I didn't think I needed.