Acquisition Target: $730K-$780K; ARV: $900K; Repairs: $120K.

It's what you paid, minus the value of the land, plus what you spent on long term repairs (roof, furnace, etc.

Quote from @Ricardo Polanco: Good evening everyone, I am evaluating the possibility of buying a multifamily property in Scranton, at this moment it has 2 apartments that only need cosmetic repairs and it has a big 2nd floor unit that needs a full repair.

Repairs: Add a pool ($65K).

If you have vacancy or in need of a large repair, will you have the cash to also manage that? 

Our current manager is in Huntsville and it is becoming clear that we need someone more local to Cullman who can be on top of showing our listings and taking charge of maintenance and repairs as needs arise. 

I feel as-is, I can get around $120k after cleanup and some minor repairs.

those 3000 jobs would get coffee and need dry cleaners and cars repaired etc. 

.- This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

I’d like more information on the DCSR lenders if anyone has specific recommendations.Also, if anyone needs advice or repairs/ replacement on plumbing feel free to send me a message!