Habitat for Humanity or local construction recycling warehouses are a great source for super cheap used kitchen cabinetry/counters that I have used in basement laundry areas.

@Bob Faulis Not only you have a couple of people reading your updates, you actually made me create an account here and start thinking about getting into this industry after having a really bad experience with the market crash, that led me to go into other industry (Recycling Industry) where I'm doing OK at the moment, but maybe I should start to diversify my sources of income.  

We bought our first 100+ year old house as newlyweds (read: naive children) in 1998 and have lived in and renovated several since, selling for a decent profit each time and learning how to do things like remove milk paint, do plumbing and wiring, and jack up a porch to replace failing beams.

Also the blue plastic and the cardboard structure underneath it is an eyesore, I don't know what it's for but if it's a camouflage like for the trash and recycling bins I would build a partial fence structure with a opening that you can close to hide those, and to match the fence around the the property.  

Properties rented in distressed condition are an eyesore and the owner is not only milking his property but is also milking the neighborhood.

Here are some of the key stats:Purchase Price: $2.8MUnits: 100Unit Mix:50 3bed/2bath's @ $580/month50 2bed/2's @ $425/monthFinancing Approach:80% Bank20% 10% down payment10% seller financing @5% with a 5 year balloonConservative Annual Financials Financials:-15% vacancy-Rent potential: $618,000-Property Taxes: $30,000-Insurance: $21,000-Maintenance / Repairs: $60,000-Water / Utilities: $68,000-Advertising: $4,500-Property Management: $52,530 (management fee and employee salaries)-Garbage and Recycling: $15,000-Landscaping / Pest Control: $18,000-Security: $5,000In summary:-$525,300 gross income-$273,030 total expenses-$177,396 (5%) annual mortgageoFirst 5 years: Seller financing repayment on 10% of purchase price @ 5% interest rateOpportunities:-Sub metered, but water is covered by current owner (~$55k)-Increase rent on 2/2's to $485We would love to hear your thoughts on the good, the bad, and the things we haven't considered or simply answer any questions that you have.

Its really the low end product that gets recycled like this.. the new buyer will do their thing and new owner will come in and the cycle repeats.

I don't want to be involved in day to day operations boots on the ground, so I need a larger community that can support staff, but again, I have plenty of friends who are milking the smaller community niche.

It allows you to recycle your seed money by purchasing a property below market, getting it rent ready, renting it at a price which allows the property to cash flow even with a higher mortgage and then refinancing at the now higher valuation to get your seed money out and available for the next project.   

Same with making sure garbage or recycling are properly sorted, otherwise, you get a fine!