You really have no idea how helpful all these little tidbits of knowledge are.

I'm still in reconnaissance mode... so need to collect as much information and knowledge as possible before deciding what to do.  20-80 is more of a rule of thumb and not a "magical" ratio.

I know what the rents should be for each of the units (2 vacant and 1 significantly under market), the taxes are listed on the MLS, I’m familiar with the water/sewer costs in close proximity to this building, and I know what percentage to use for my Vacancy, CapEx, and repairs and maintenance based on my knowledge of the local market.

@Jay Hinrichs you live in Oregon, what's your knowledge in this area?

A knowledgeable attorney can help you set up compliant contracts, review your processes, and ensure you’re staying on the right side of the law.5.Consider Structuring Deals for Investors•If you want to avoid Dodd-Frank requirements entirely, you could focus on selling to investors or structuring deals for non-owner occupants.

I’m local to the Amarillo area and would be glad to provide local market knowledge if that would be helpful.  

@Don Konipol @Chris Seveney to my knowledge are current fund owners/managers and are very versed at the rules..

Thank you so much for sharing your thoughts, experience, expectations and thorough knowledge about locations.

Overall kinda ok area, but either you have to be pretty good at landlording or have a very knowledgeable in THIS particular area.

It's where real estate knowledge meets opportunity, empowering you to turn your investing dreams into reality.