-Remove and cap a washing machine hook up in the 1st floor kitchen-Add a washer supply and drain to the new 1st floor laundry room -Install a new shower diverter with controls in the second floor shower-Add a supply and a drain for the second floor dish washer. 

As a side note, I was in the area this past Friday helping to build raised gardening boxes on a one time vacant lot for a community garden that will allow area neighbors to grow there own fruits and vegetables. 

If you can imagine a timeline whereby PR decides to sell property for a variety of reasons, the early sellers will be picked off by many different buyers competitions for the low hanging fruit deals.

If I can get the use of it or fruits from it or title to it and after taxes it doesn't cost me anything, after considering my time of messing with it, then it is a deal.

Additionally, you can reposition the unit by adding high-end finishes, laundry machines, dishwashers, private patio areas etc. to make it more appealing, and thus charge even more, something on the order of $2,300 - $2,800 per unit.

Real estate business involves hard work in the beginning yet you'll be able to reap the fruit in the future.

Meanwhile I was thinking all along to kick things off with a 2-4 family unit with enough cash flow to help keep the wheels in the machine turning.

So I'm way over budget on a rental and after installing the washer and dryer come to find out there isn't a drain for the washing machine.

Unfortunately, as the letters were machine processed at the USPS, the sorters managed to break up the the tylenol tablets......so the letter recipients were opening their mail to find this suspicious white powder. 

Example Of A Duplex Deal$50,000.00 All In w/ 20% Down Payment:Purchase Price$44,000.00 Closing Costs$1,000.00Repair Costs$5,000.00Total Costs$50,000.00Income:1 Bedroom upper$525.002 Bedroom lower$625.00Total Monthly Income$1150.00Expenses:1st Mortgage, 80% ($35,200.00 at 6% interest over 25 years)$227.002nd Mortgage, Private Investor Funds ($14,800.00 @ 11%)$136.00Taxes$150.00Insurance$70.00Utilities (water & sewer) $40.00Vacancy Rate (10%)$115.00Repairs and Maintenance (5%)$58.00Capital Expense (3%)$35.00 Property Management Fee (10%)$115.00Total Monthly Expenses$946.00Cash Flow:Income$1150.00- Expenses-$946.00Monthly Cash Flow$204.00Example Of An 8 Unit w/ 10% Seller Financing8 Units at $224,000.00 all in:Purchase Price$208,000.00Closing Costs$1,000.00 Repair Costs$15,000.00Total Costs$224,000.00Income:8 units at $600.00 each$4800.00Coin operated laundry on site$100.00Total Monthly Income$4900.00Expenses:1st Mortgage, 80% ($166,400.00 at 6% interest over 25 years)$1073.002nd Mortgage, 10% Seller Financing ($20,800.00 @ 10%)$174.003rd Mortgage, Private Investor Funds ($36,800.00 @ 11%)$338.00Taxes$450.00Insurance$150.00Vacancy Rate (10%)$490.00Repairs and Maintenance (5%)$245.00Capital Expense (3%) $147.00 Utilities (water & sewer) $300.00Property Management Fee (10%)$490.00Total Monthly Expenses$3857.00Cash Flow:Income$4900.00- Expenses$3857.00Monthly Cash Flow$1043.00Example Of A 50 Unit Deal50 Units at $1,350,000.00 all in:Purchase Price$1,150,000.00Closing Costs$2,000.00 Repair Costs$198,000.00Total Costs$1,350,000.00Income:50 units averaging $610.00 each$30,500.00On site coin operated laundry$500.00On site vending machines $100.00Total Monthly Income$31,100.00Expenses:1st Mortgage, 85% ($977,500.00 at 6% interest over 25 years)$6,298.002rd Mortgage, Private Investor Funds ($372,500.00 @ 12%)$3,725.00Taxes$3,000.00Insurance$1,000.00Vacancy Rate (10%) $3,110.00Repairs and Maintenance (5%)$1,555.00Capital Expense (3%)$933.00 Utilities (water & sewer) $2000.00Property Management Fee (10%)$3,110.00Total Monthly Expenses$24,731.00Cash Flow:Income$31,100.00- Expenses$24,731.00Monthly Cash Flow$6,369.00Financials