I just purchased a 12 unit in Lakewood, WA that has coin op laundry.

@Amber Saulsbury @Irina Belkofer is correct in laying the CAP rate formula, as I read in one post above where they included the financing expense which SHOULD NOT be included when calculating the CAP rate.Anyways, here in El Paso, Texas I can buy a multi family (8 unit or over) C- building with a CAP of 8% - 9%, Most investors settle for that, but my value play strategy is, I come in and rehab the units, add individual water meters and charge it back to the tenants, sign 12 months leases, raise rents, swap washing machines for coin-operated machines, you get the idea, anything that helps me reduce the expenses.

Do you have onsite coin-op laundry for your tenants?

Besides, have you not heard of those news stories where someone buys a house and upon cleaning, find a million dollar coin or painting?

I would wager that a CPA could find more deductions and also provide peace of mind that your taxes are accurate, especially when this is new to you.Check with @Adam Hardy  , CPA at Jenson & Co in Maple Grove.

Rule of thumb: traditional if current federal marginal rate is 22% or higher; Roth if 10% or lower, or if MAGI is too high to deduct a traditional IRA; flip a coin otherwise.

If there are 5 offers for the same amount, all cash, all quick close......do you think the seller just flips a coin?  

On the other side of the coin, if you wait, then eventually someone will pull a title report and will redeem, and you will earn more money due to the passage of time and the 12% per year interest.  

It is coined "the lost decade" in reference to this, as in 10 years of lost recruitment and training.

@Sergey Somov - There are always at least two sides to a coin.