And find out how comparable those places that rent for $500 really are.Without anything else to go by this looks to me like it might be a pretty slim deal.

Since the tenant caused the damage there will be no reduction in rent , and repairs will be extra rent .I have the utility company contact me if utilities are shut off , the properties on well have no water without power , city water does , when I get a shut off notice , I go over and blow out the water pipes (winter only) and I disconnect the electric from the water heater ( save the elements) .

Our crime problem is nothing compared to what goes on blocks from the White House or in Chicago...

I also ask for the turn key co's inspection report and compare the two.You would need to do some due diligence on the turn key company though.

We aren't comparing experienced agents though, this is someone without a license and no experience.

From what I've seen so far, the price per unit seemed to be more favorable in 4 unit+ buildings, and my quick calculations based on rent in comparable buildings made the ROI look better on those properties, too.

I guess one difference between our 2 situations would be that your SF would be appraised based on comparable homes where my commercial multifamily would be appraised based on the income.

This is really a two part question: 1) how do you know what the seller is claiming is what they are actually collecting 2) how do you know that is an appropriate amount (or how much too high/low) it is compared to market rent.1) Ask for a copy of the current leases, and copy of cancelled check or deposits to show that they are collecting that.

For rentals the market is great compared to most places I have looked.

Still decent enough areas with pretty low prices compared to what people are paying for rent in those areas.I just picked up some vacant land on Granby Street in Waterbury to build some multi family units down the road when time and money allow.