My previous tenant left the yard in a poor condition before moving out.

She did move in two cats during her tenancy (with my permission after the fact), and the house was left in fairly good condition when she moved out:Most holes were patched (though some in the basement were missed).It was moderately clean but needed extra cleaning due to cat hair in the carpets.Minor issues included:A missing doorbell.Missing shower hardware.One of the window blinds needed replacement.A truck bed full of items left in the shed that I had to haul away.Since I was in a pinch between Christmas and New Year’s, I hired professional cleaners for a quick turnaround.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

I’ve found a duplex that seems to be in good condition, with both units currently rented out.

Quote from @Daniel Tanasa: Another option is to get a small cash out refinance from the house you plan on fixing up, if is in financeable condition, and use that to fix it up, while still cash flowing.

Streamline your communication process to secure quality tenants.Focus on QualityThe condition of your property matters more now than ever.

Its proximity to campus, turnkey condition, and rental history make it particularly appealing to investors seeking high cash flow and low vacancy risks.

What questions should I ask to understand the property’s condition and the heir’s willingness to sell?

However, after renovations, the numbers improve significantly, and the challenge lies in bridging the gap between current and future performance.Expenses typically run at a 30-50% expense ratio for mobile home parks, depending on management and infrastructure conditions.

Assuming this is a clean file, with no exceptions required, most Underwriters take anywhere from 48-72 hours to review a loan and get CTC, or provide further conditions.