Put NOI in the numerator and divide by Annual Debt Service, must be greater than 1.25x.Costs for repairs really depend on how much asbestos you have (you might not have any) and cost to replace K&T wiring (depends if the wiring is accessible from a drop ceiling, in an exposed basement, open attic, or behind plaster walls that will require some cutting and patching. 

If you run into a tough patch you have the freedom to scale back to the scheduled 30 year payments.

NJ is a very tough place to loan money from the lender side of things.. foreclosure time lines are for ever.so I don't think your being realistic on what you expect.. but I know Patch of land has done a ton of NJ loans. you can go direct.you need more than 20% cash into the deal.. in most instances in a state that is so tough to work in.credit while important is not the main driver in HML.  

Then I'll send a third contractor to reinstall flooring, patch walls and ceiling, paint, install trim, etc.

$500Permits - generally 1% of costs Subflooring patching when you remodel the kitchen/bathroomsExterior Painting?

I get that Schenectady has it's rough patches and not as strong of an economy as Albany but is there something HUGE I am missing or has anyone found the numbers to actually be this good?

Also figure on needing a plumber to patch at least a couple of leaks which are usually the cause of the mold.Can't say much about replacing furnaces but if it is older than 10 years when I was looking to buy a house for myself I viewed it as a negative.  

Makes very good insulation for sound between apartments, instead of two layers of 1/2" sheetrock you have 1.5" of wall on each side of the studs.Even though I patched it with another tile, it looks patched. 

Had a small roof leak and we discussed him fixing the work and agreed on a price just to patch the leak.

not so mush any more in the midland area because the rights are retained by the original owner, i know in the land that i have here about 2 acres i'm in the middle of an oil patch but most everyone is who's not in city limits. and the original owner kept the rights but i made sure that it was in my contract that no lines or wells could be added on my property.