Definitely looking forward to adding value to it to help bring up the rents.Looking forward to another meet up with @michael Schraepfer at Heirloom so we can all network again!  

I assume this is not a unique problem, look forward to adding to the community. 

If you only look at purchase price and exclude any other expenses (cap ex, closing, etc) and you're not increasing revenue or NOI in Year 1, then your cap rate and Cash on Cash will be the same.The cash on cash fluctuates from the cap rate in Year 1 due to added expenditures on top of purchase price (Cap ex, closing costs, etc) and changes in NOI for Year 1.

You have many more options as to adding value to a property when you are dealing with MF.

It also does seem like after Aug 15 the number of responses to ads dropped significantly compared to the first 2 weeks it was advertised.

I see no net advantage to adding your MIL to the title either.

Your message was pretty venomous.

From what I understood later, it wouldn't make a difference if I renegotiated with him to added in another 4%.

ARV is $730K for a 1,700 sq ft (one just sold in the neighborhood for $740K) I paid $495K and I'm calculating $120K for the addition and rehab including architect plans permit and fees. the property have 1200 sq ft and I'm planing to ad 500-600 sq ft.

We currently have our own family insurance that we purchase ourselves as we are both self employed (my wife and I).I agree with everything Buddy above said, however, just to ad on that property manager note--if and when you start looking for one, don't just hire on price.