In my last post, I noted how home builders and commercial contractors were experiencing sticker shock.

All this spending and lack of income for many counties is starting to shed its light now and people are going to have significant sticker shock.

However, I gotta say for first year, I'm kinda shocked at how well it's done (yes, I had to apologize to my wife for doubting her).About the only thing I got from our PM (who I trust) is that larger places (ours is 4/4 bed/bath) rent a lot better for families since she thinks smaller places are competing with hotels (that are buying business to stay open).Other thing is the mgmt fees, which are about 40% of gross, so you want to make sure you get a lot of services (like cleaning and posting on the Internet) included as you can. 

I'd be shocked if there is no legal precedent for something as simple as a classic squatter scam.

I bought many at court house steps from folks when I showed up that were shocked.. those guys were bad actors all the way.. 

@Mindy Jensen I am shocked mark ferguson is not speaking..

I would definitely talk to other lenders, in my experience I've been pleasantly surprised by how different lenders are.

I'm new to BiggerPockets, but on their first podcast I listened to, I heard them mention the 2% rule and it shocked me as I thought "You guys are dreaming.

This is from 2017- prices are at least %10 more nowDESCRIPTIONESTIMATEAdd 3%Adjusted3655 Pleasant View Apartments 12% BUILDING PERMITS$56,000.00$6,720.00$62,720.00ELECTRICAL DEVELOPMENT$3,700.00$444.00$4,144.00UTILITIES/TEMP POLE$5,000.00$600.00$5,600.00EXCAVATION$350,000.00$42,000.00$392,000.00RETAINING WALLS $0.00$0.00CONCRETE PUMP $1,500.00$180.00$1,680.00CONCRETE$10,000.00$1,200.00$11,200.00FOUNDATION/CONCRETE-LABOR$16,100.00$1,932.00$18,032.00CONCRETE CUTTING$500.00$60.00$560.00TESTING/CONSTRUCTION STAKING $0.00$0.00ASPHALT$40,000.00$4,800.00$44,800.00CONCRETE FLAT WORK$14,000.00$1,680.00$15,680.00FRAMING LABOR$80,000.00$9,600.00$89,600.00ROOF TRUSSES$15,000.00$1,800.00$16,800.00BUILDING MATERIALS$150,000.00$18,000.00$168,000.00WINDOWS & SKYLIGHTS$14,000.00$1,680.00$15,680.00EXTERIOR DOORS$24,677.83$2,961.34$27,639.17ROOF COVER$17,000.00$2,040.00$19,040.00STAIRS$40,000.00$4,800.00$44,800.00SIDING LABOR$44,000.00$5,280.00$49,280.00GARAGE DOOR $0.00$0.00GUTTERS$3,200.00$384.00$3,584.00PLUMBING$60,000.00$7,200.00$67,200.00FIRE $50,000.00$6,000.00$56,000.00HEATING$15,000.00$1,800.00$16,800.00AIR CONDITIONING$25,000.00$3,000.00$28,000.00ELECTRICAL$110,000.00$13,200.00$123,200.00MASONRY $0.00$0.00INSULATION$20,849.00$2,501.88$23,350.88SHEET ROCK$85,000.00$10,200.00$95,200.00INTERIOR TRIM$22,000.00$2,640.00$24,640.00TRIM LABOR$20,000.00$2,400.00$22,400.00CLOSETS$4,000.00$480.00$4,480.00FINISH HARDWARE$9,000.00$1,080.00$10,080.00UNDERLAY LABOR$14,151.00$1,698.12$15,849.12CABINETS $34,000.00$4,080.00$38,080.00COUNTERTOPS$20,000.00$2,400.00$22,400.00BLINDS$2,000.00$240.00$2,240.00TILE $0.00$0.00TILE LABOR $0.00$0.00MAIL BOXES$2,500.00$300.00$2,800.00PAINTING$41,000.00$4,920.00$45,920.00CARPET$9,258.00$1,110.96$10,368.96HARDWOOD FLOORS$22,000.00$2,640.00$24,640.00KITCHEN APPLIANCES$48,616.60$5,833.99$54,450.59LIGHTS$8,500.00$1,020.00$9,520.00MIRRORS$3,000.00$360.00$3,360.00FINAL CLEANING$4,000.00$480.00$4,480.00PICK UP.

Honestly, I have been really shocked for the smaller properties we own in MD, as our collections have been 100% for April and May.