Then they add on all kinds of "extras" that bring the price up to normal levels. 

@Kody Fordyce glad to hear you have had success in Indy, that makes me feel better about the market.

I just walked through a home in North Dallas yesterday that has gone through multiple modifications and add-ons.

Here is what I calculated as our current monthly expenses: Principle + Interest= $1450, Property Tax=$475, Insurance=$67, HOA=125, Water/Sewer(Fixed cost even if we use no water)=110 Total = $2227 and then I have to add on maintenance costs and vacancy as well.Since we bought the property in 2008 without having any real estate experience we seriously overpaid for it at the peak of the market.

@Kody VeitI hope you get approved for that 203k loan!

I know a lot of PM companies will post on zillow/craigslist but are they posting the same add on MLS?

I'm still not certain it could be done legally, but if so, I'm surprised at the pushback here for LL's to add one more weapon to their arsenal when dealing with delinquent tenants.

Old victorian houses that have had a million add-ons and modifications from drunk uncle Jimmy can take much, much longer.We translate from drawings to Archicad.

Keep in mind that many features in Rentec are sold as add-ons, rather than being included in the subscription cost as they are in Buildium.

Multifamily has the advantage of having the value or appraisal increase with the add ons you put and rental value but sf (depending on what class of area you are buying) is normally near good schools, which means higher rental occupancy.