I've had concrete two story stairs collapse; a full room plaster and lath ceiling fell due to slow roof leak, narrowly missing occupants; kitchen waste line main was blocked, several floors above were draining out of our kitchen sink...in a million dollar plus 2 bedroom condo...for a couple of days, as the people below were out of town also so there was nothing reported; I've had Tenants on a few occasions walk out the door leaving EVERYTHING behind; a well known Bail bondsman vacated a property that had apparently let multiple pit bulls live and crap throughout the multi-million dollar house; Military Tenant who was separated from wife, but she came to visit, they fought, SHE got a TRO against him, and of course she had no income and paid no rent for the several months it took to evict; Another Tenant, quite elderly, lived in a walk up and had two yappy little dogs.

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.