One final thing to consider is sometimes when it comes to elderly people, their family members have put them on a do not call list to protect them from solicitors.

@Sam Elder keep in mind David and Frank are relatively new to the market and don't have a long track history here.

@Mark Elder asking for direction right?

Often(but not always) these neglected homes are owned by an elderly individual in an assisted care facility.

The only time we make exceptions is if the adult is disabled and incapable of living independently or elderly and being cared for by a relative.

Since the seller is elderly, ensure you she discuss her transaction requirements with her attorney and accountant.

., dog walkers for their pets-- plenty of services-- that the property managers can coordinate a full service weekend experience for a wealthy elderly couple from New York.

- Quadplex in Richardson, Texas- Gross Income : $27,600- Expenses : $11,405 (Utilities paid by the owner, insurance and property tax $4200, I think is little too much, almost two months of rent, but this is Texas remember)- Asking price $165,000 - Built in the 1960sUsing the 50% rule, expenses would be almost $14,000So per unit calculation would beRent : $575Expenses : $288NOI : $287Debt Service : $185.49 (Based on 25% down, 6%, 30 years asking price)Cash Flow : $101.50Calculated Cap Rate 8.8%The property is 100% occupied, and owned by an elderly couple with several other units.

They are elderly, healthy, retired, live very comfortably, make minimal to no noise at all, very clean and they pay on time all the time.

You have to understand not everyone is an entrepreneur.If they work and take a paycheck every week that is their mentality.Work until they can't and HOPE retirement and the government will take care of them in their elder years.Sadly that isn't going to be the case.