This extra year gives property owners more time to schedule inspections and make necessary repairs.Key Points:Applies to multifamily properties with three or more units.Covers balconies, decks, and elevated elements made of wood or similar materials.Inspections must be completed by licensed professionals and repeated every six years.Hazards identified must be repaired promptly.With the extension, now’s the time to plan ahead.

Getting a base 8-15% return instead of 2-3% before actual “profit” puts you way ahead of the cash buyer. 

One of our parks is 60% POH and in my experience the only way that park pencils as well as it does is to get through all the major repairs, get the homes 'right' and then keep them 'right'. 

I doubt it would qualify for a conventional loan with the repairs that need to be completed.

So this is mostly in reference to us doing our own repairs, not necessarily looking to hire other people.

The Only other deductions that I have right now are $154 for unpaid water bill, and $45 for the minor repairs mentioned (doorbell, blinds, shower).Questions for the group:Does $540 seem excessive for a cleaning charge, given the situation?

I am hoping this gives me a head start in funding the initial investments.I also have some high balance liquid assets, but I am putting all or most those funds into other investment vehicles to diversify my holdings such as stocks, bonds, etc.

I would say that the value he brings is finding the deals, doing an initial diligence, having a local team set up for renovations/repairs/property management as well as knowledge of the neighborhood.

Personally I'm working on a very exciting niche, but will take some time to pull together; and I'll give you more details as it moves ahead. 

Aside from downpayment, you want to have a solid emergency fund in place, something that can cover unexpected repairs, vacancies, or any other random costs that pop up.I’d also recommend saving more than you think you'll need and keeping a close eye on your expenses.