We also have annual taxes that are based on what the home is worth multiplied by a millage, or mill rate.

You take the age of the unit and multiply by the cost of the repair.

In that case, estimate average number of rentals/year and divide by 12 then multiply by cleaning FEE and add to Other Income (along with any other fees you will charge), then also do the same thing but use your cleaning COST and add into Other Expenses.

These amounts will be multiplied times the number of months you indicated for the Rehab time (6 months).  

Assuming that neither party wants to do the leg work: Title company will estimate the total amount of OPEN (unpaid taxes) and multiply that figure by 150% and hold that amount in a TI.

One way to motivate a person (Mentor) to work with you is to share the profits - the Mentor can see you as an extension of themselves, their down line or an opportunity to clone them-self.Your Mentor (he or she may not see them-self as a Mentor - but a teacher, a partner - an opportunity to make more deals - a way to multiply their income).Become a Locator (also known as a Bird Dog), get into the market, go to auctions, talk to title company associates - agents and hard money lenders - ask who's THE MAN who is the most active buyer/investor in the area.What you want to know is who is THE MAN!

If you are factoring properties into your comps that weren't sold for FMV then you comps will be skewed in a way that isn't giving that area a fair picture of what you or your rehabber can sell a house for IF it is properly marketed and advertised.Now when you're dealing with rental property comps are one component but many times other factors are more important to a rental property investor (i.e. possible cash flow & ROI, gross rent multipliers, or other "magic" numbers).

I have house hacked twice now.I always use these 6 formulas when doing basic numbers on a property.The 1% rule- example is a $100,000 House should rent for around $1,000 per monthThe 50% rule- 50% of the gross rents of the property will go towards expenses on the property that don’t include principal and interest payment.Gross rent multiplier- similar to a P/E ratio where you take the purchase price and divide by the gross rents for the property Cap rate- tells us what a property will produce after expenses.

First, if market values fall relatively rapidly AND you have to refinance the debt (because you have a balloon note, for example), then you can be in trouble if you multiply this issue across many properties.

I have 2 rentals and I can't imagine multiplying the promises, excuses and stories every month by 12 to handle 24 units.