Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

Non paying tenants(as a newbie I did no screening), dead tenants, Silly fines from the city for nothing, attempted robberies where I ended up with the cops pulled guns on me. 30 recently released convicts as neighbors for a while, a jacked up 7' tall transvestite call girl/drug dealer was my least favorite neighbor.

If you have ever played the Cash Flow Game, you are pretty much the poster child character in the game for a high-income investor.

We do attempt to notify the owner before we make the decision and give them the opportunity to give input but keeping the property and tenant safe, and following the Tenant Landlord Laws are more important than getting permission. 

Additionally, I would like to attempt to do the process Owner/Builder with subcontracting work out as well as doing some of the work I'm comfortable with (I have some experience with bathroom & kitchen remodeling an am not new to the construction industry).

These modifications are carefully crafted to incorporate ADUs seamlessly, aiming for a delicate balance between increased urban density and sustained neighborhood character.

Warn them that you will report them to the state commission if they attempt to charge you or refuse to comply with your demand.3.

The buyer will, if they get screwed, attempt to get whatever they can from the seller, and from YOU, as the wholesaler. ...In sum - if the above sounds appealing to you, go for it! 

I was going to do that in an attempt to get creative with my financing options so that there are no liens on it and I could borrow against it as an option.

Used PSI last year, they did a bad job, the snow wasn't even bad last year and with several attempts asking them to do better within the terms of the contract, they still sucked.