They WILL be able to destroy the wood floor almost as fast as the carpet, I am absolutely convinced about that :)Otherwise, I choose basic stuff, and from there I pay more in two cases:a) It's not significantly more to provide a fancier grade product, but it adds bling (faucet with sprayer, for example)b) I know I get the durability that withstands the tenants and the higher cost has a certain payback.

Need hot water, cold water, drain line, electric for dryer, and dryer exhaust vent.

Call elec to verify that can increase capacity to withstand your development. 3.a. - Know what the county likes.

After exhausting nearly all of my private lending options I have to find a way to scrape up some cash for a down payment on a (4) 1 bedroom apartment + 1 small commercial storefront space in a small town in Indiana.Could anyone provide me contact information for a lender that I could try to reach out to as I don't necessarily trust all of the Google search results that came up....

Offering a decent return and equity stake for bringing the dough to get your next deal done is far better than watching your competition or a Yogurt shop go up across the street because you were too scared/greedy (in a polite way) to concede a bit of your profit to get the deal across the finish line.I also have access to a few dozen Equity investors that may be interested in your deal if you have exhausted all other avenues in your own circle of influence.Keep us all posted of your progress.

If someone is wanting near retail price for their place, then I will send them to a realtor, and homefully the realtor will send their seller my way when they exhaust their options instead of just letting the bank have it.

If it's clay it is likely broken in places or if it's galvanized it is corroded from the inside and leaking outside underground.To replace just this one pipe depends on the length of run from the street to the building(s) and if certain sections are under one of your roads or your parking lot.This can cost tens of thousands to a hundred thousand in some cases to fix just to replace the pipe to the building.So that one item only can add up to another 2,500 per door in rehab costs to a 40 unit.Another one is EPA cleanup.You would need to look at what properties are around it for possible contamination and get a Phase 1 report completed.I haven't even gotten into if the building does not have a sprinkler system and the city or county wants one installed to bring up to code.5.You need to look at down trending of rents.With the foreclosures you want to rehab fast and pick from the most qualified tenants to release up.So just on basic info you have posted and not knowing anything else.40 units at 325 rent is 13,000 a month X 12 = 156,000 yearly gross156,000 minus expenses7% property management10% vacancy (your numbers are based off low rent so vacancy upon rehab should be less than going for full market rents)38% operating and expenses55% expense= 85,800 156,000 - 85,800 = 70,200 NOI once stabilized (1 year turn around expected for full rehab and rent up depending on what is needed)Value at a 10 cap is 720,000 before resale costs.Cost per unit for rehab 10k = 400kPurchase price = 150k550k - 720k new value = 170,000 forced equity.You have to remember the level of rehab needed per unit and the expected rents will play a large factor.This is just an estimate.I would find someone knowledgable to partner with if you plan to proceed otherwise you will have angry partners who lose money and multiple lawsuits will ensue when it goes bad.I by no means put an exhaustive analysis here just the basics.

They want to recycle money quickly to increase their returns, they aren't looking to collect installment payments long term.Rental properties generally get either conventional financing (15 - 30 years fixed) or after that's exhausted or otherwise unavailable, will go with private funding (generally a bit more expensive, shorter amortizations, and variable rates).

For you, if without assets, it is a win win deal IMO.If you first exhaust your own credit and resources, and you make a profit on the 50% split, then it is better than no deal at all.

It is an exhaustive (about 600 pages) study of the central bank in the United States.