Not that I do not trust sellers but they tend to paint a rosier picture than reality.

Roof is in need of replacement ($4-5,000) and could use some carpet replacement and made some laminate flooring and misc, paint, cleaning ($2,000) Property should rent for $700-$750 Per month.

My agent has seen the place and said that it was in quite good shape (needs paint and carpet).

Painting me as a totally in the box, conventional deal type is painting by numbers, you have no idea.

New roofs, paint, carpet, counters, cabinets, etcRent: $40,800 yearly ($3400/month)Expenses and Vacancy: $20,000 (using information from seller)Mortgage Payment: $9,224Pretax Cash Flow: $11,576Cash ROI: 16%Cash/Door/Month: $188Any comments would be appreciated!

When you get down to the math, it costs less to keep (good) tenants than it does to find new (unproven) ones.Costs involved in keeping a tenant: an occasional gift, the occasional repair, paint an accent wall of their choosing, etc.Costs involved in finding a new tenant: #1 is lost rent for the amount of time the unit is vacant.

I offered about $20k under the asking price which was already low ( way below appraisal value), with no great expectation of it being accepted, if it is great, if not there will aways be more deals to find.just a quick note, the house was built in 2006 and is actualy in great shape, minus some paint and trim work.

I still think it has some potential as it is currently occupied and after walking through is in rent ready condition needing nothing more than some fresh paint and cleaning.

And they don't embrace the family landscaping, cleaning and painting projects at the rentals, ha ha.

Open the kitchen into the living room; expand 1st floor bathroom into closet; refinish floors; paint; etc.The neighborhood is great and I live just a few blocks away from the property.