Purchase price: $535,000 Cash invested: $75,000 Buy and hold - purchased at 535k - invested 75,000 between roof, kitchen, paint, tile, vinyl siding, landscape, replacement windows, down payment. ( no closing cost as it was off set by my broker commission )Inlaw apartment above garage brings in $1,700 per month for 1BR 1BTH ( 700 Sqft )Refi and re appraised - 4.75% to 3.99% - Fully dropped P.M.I. - Re appraised value at 645k ( prior to vinyl siding )Currently paying $1,300 per month to live in the 2,800 square foot side ( main house ) 5 bedroom 3 bath.Total PITI = 3,010.65 Income after moving on to next property - Main house = $3,400 per month - Inlaw = $1,700 per monthTOTAL POSITIVE CASH FLOW = $2,089.35 What made you interested in investing in this type of deal?

Tough tenants cost a lot more than good tenants.When the economy cycles, the tough towns are the last ones to rent.Don't look at advertised rents when the property isn't rented at that amount. 

I'm having trouble recalling how it's done or what its called, this would definitely help with saving on some of my reserve cost  A real estate sale is always final, there is no seller liability beyond closing.

If the former two items are true then you could possibly issue a costa hawkins rent increase to bring it up to market.

We own in Canada, US, Costa Rica, and Mexico.

Your loan will cost a little more over 5 doors.

We're leaving next week for a week long Costa Rica trip with no money into the flight and a nice resort stay.

These things don't cost a ton (this is in my scenario, because I usually am the one doing this work so it is just my time, verse a sum of money from a GC) and people always love them.

Hi Ann ...building a house on pier and beam should not require any specialized builder.... its  a very simple process where work is really during design (civil/architect) and design work should not have  any additional cost as well ...

As far as property types, If I could afford a multi-family, renovate it and then rent it out, then I would do that but a run down multi-family in Boston will cost a million.