It's somewhat ironic watching leverage proponents complain about the availability of money 🤑4.

With the exception of the property we recently sold, nothing in the comparable range has the amount of work or detail we have put into this particular property including an engineering report with $6,000 in warrantied foundation work, a new roof, completely replumbed under home replacing all cast iron piping, new electrical system installed, new flooring, new garage motors and doors and interior touches such as counter tops, backsplash, paint and finishes.  

This is particularly ironic coming from the Toledo City Council - 1/3 of which is currently under criminal indictment.I had an email conversation with the Lead Safe Coordinator last Friday, exactly one week ago. 

I look at the renter/homeowner ratio and anticipate the more renters, the higher the demand for rental properties in that area thus the higher the rent.Homeowner areas tend to be nicer cleaner quieter hoods cuz of the pride of ownership, but there is less demand so it will take longer to screen the same # tenants although if its a house you are renting you can luck out because in today's market where people want to live in homeowner areas but can't get a mortgage and/or simply don't have the downpayment, settle for renting homes in the 'nice' area for much higher than inner city rents because areas that are mostly renters tend to be somewhat crummier and that is the case I have found even in comparing affluent cities like Beverly Hills, CA to Cerritos, CA(BH has more renters than Cerritos, their is more rental demand in BH, there is higher rent than BH but Cerritos residents average income is actually higher than BH and quality of living is higher in Cerritos (ie, cleaner, quieter) and so some families that can't afford a house would rather rent in Cerritos than BH as ironic as it may sound since BH is closer to more city jobs than Cerritos).

Ironically I’m looking for multi families in the San Antonio area, so maybe we could exchange some good knowledge.

In terms of the goals, one major thing I would try to iron out (I am sure you are focusing on this) is get that triplex rented out!

If the space allowed you can prepare one iron made staircase and just fixed it over there.

Hence the reason why Wil started this marathon of a thread.This thread is to slowly and painfully educate the new or inexperienced investor/wholesaler in the process of a good wholesale deal.I believe that if someone can read this thread in it's entirety they will pick up a few key pieces to help iron out the rough edges.

The long explanation above conveniently skipped the fact that the taxes due on $35k at exit will be higher than the taxes paid on the $35k over the 5 years if the amount was not offset by depreciation loss.It’s ironical that the only way to realize the gains without paying taxes is to die.

Ironically the one inquiry was upset I wasn’t charging a damage deposit which I manually applied.