The gem of San Bernardino county is Redlands.

ie=UTF8&qid=1389974208&sr=8-2&keywords=window+insulation+film&tag=apartmentth0a-20 What have you done with your tenants living in vintage places?

@Eric James thank you that gem !

Try Gem City, Roost, or Manco.

That vintage of a building you would need to really look closely at all life expectancies.I can tell you from listing property and selling as a commercial short sale what generally happens is this.I find owners that are upside down in debt service are treading water.Even if they own other buildings if they were all bought during the boom times they don't give out enough money to break even.If you purchased more buildings during earlier years the debt service and properties are most likely not upside down.Older buildings like that need constant repairs over new product.What most owners do is the bare minimum of patch and paste to keep cash flow going.I would want to see the rental history of how long the tenants have been there.Asbestos is a biggie and so is lead paint.When you turn a unit meeting the new EPA lead certified rules cost a bunch more money and you have to use certified contractors.So during due diligence I would get testing done to really see what I am up against.Land was more plentiful back in the 60's and development was more spread out.Landscapes change over time so if this property has a nice chunk of land it sits on you might be primed for redevelopment as a value play down the road.Seller paid utilities are a killer and all my investors hyper focus on it for multifamily as they see it eating into their bottom line.They see if they are holding ten years and have 5 year financing what happens when utilities skyrocket and they have to refi into a higher percentage rate loan.They will get squeezed from both ends.If they get hit with heavy repairs and turn rates they will get hit from 4 different angles.These are the items on my investors minds that buy into the hundreds of units at a time down to 20 to 30 units.Most do not like to go real small as the financing is harder to obtain as many commercial lenders do not play in the smaller space.The bank wanting to finance the deal sound like a small to mid size bank.They want a higher price of course to preserve margins and losses to the books.Bigger banks usually just want to shred the price and sell cheap to get it off the books at all costs because of the large volume of new loans they are doing they are better underwritten.Remember future repairs on older vintage buildings will eat you alive for cash flow.Also it might be a C age building today but when you sell will be a D age.On exit you have to plan on selling for a higher CAP to compensate.If the market is stronger then great but if it's not your plan and expected returns will be inline with each other.Hope it helps.

Many people put extra layers but not recommended and not legal.3 - I don't know any banks that will finance a mobile home of this vintage.

If you're a rehabber wholesalers are a gem.

Thanks for all the great info I am heading over tomorrow to look at this gem!

The MLS also has some gems, you just have to dig and get your boots on the ground.

Harassed my realtor to continue sending me listings and making offers, I did find one gem, fantastic deal but it fell apart because I couldn't prove that I had the money (pre-qual letter/proof of funds). 1.