There have been no additions or layout adjustments on the interior, it looks straight out of 1930.

probably the wrong website to make this proclamation.. most of these folks aspire to be landlords and if they are .. they have been burned by people skipping out on them.so for you to lay out chapter and verse how you skipped out on your debt probably does not play well to this particular audience. so on the flip side I guess you could have filed chapter 7 and paid nothing.. so at least you paid something.

depending on the layout of the building is how the water system is plumbedif it is a 120 or 80 gal gas heater with a high recovery then it is efficient to carry the unitthe way they are sized is by the fixture units of the dwelling-how many hot water fixturesmost multi dwellings have only one heater to carry the units, common practicewhat to look at are the gas units, are the ranges gas also like colleen mentioned the cost to convert to electric is costly but you may be able to get the power company to do a energy upgrade if all the other fixtures are gas- like your heating and stovesthey will do a conversion and set you up on a monthly payment schedule that your renters will payfor in the long run, my infringe on the cap rate alittle but after time it will increaseenjoy

Typically a portfolio lender will make the call based off the assets, I would try doing as many as possible because each time you need to acquire another property and use the others to cross collateralize they might want to re-evaluate each one...But not all banks will do this to begin with. id lay out your biz plan and the cash / net worth you have to several banks, but likely they won't be able to do much until you have put properties under agreement.

@Alex Silang It depends on your goals, I find the excitement is in the rewards, I enjoy renovating apartments, I enjoy creating new layouts in a house ( adding bedrooms, knocking down walls etc ) and best of all I love getting the rent checks. 

That’s a great area so you might be better off changing that layout inside to a bunch of 1/1s.

If you have carpentry type skills the layout part should be very easy to you.

Pet•Document Discrepancies such asSecurity Deposits on Lease but not on Rent RollLease Amount on Lease different than Rent Roll•Typically 1 or 2 on a 100 units will not match•A Pattern of Discrepancies triggers a Complete Lease Audit•Work OrdersReview Work Order Request Log•Common problems•Response time•Gather Additional Data when walking complex with Maintenance personal•Walk Each UnitTypically 3 -4 common unit layoutsLook for Reoccurring ProblemBring Unit by Unit Inspection NotebookVerify the standard Dial-in Number of $400 per doorProcess goes faster when you get use to the layouts and the Unit by Unit Inspection formGet into every unit•Quick Walk ThroughHave Property Manager opening units ahead of you.Enter Unit check the carpet and blinds as you go to KitchenKitchen check Appliances, Cabinets, C’tops, faucets, area under sink , & flooringWhile walking thru Living Room to the bathroom check ceilings, walls and windowsBathroom check Toilet, Vanity, Sink, Tub Flooring and the Condenser Unit above the tubCheck Hallways and Hot Water Tank on route to the BedroomsBedroom: scan walls, closet, ceiling, windows and flooring.

He has three coaches that help students out, so they could offer help, plus there are a few dozen webinars students have access to that pretty much lay out the whole process of apartment investing, so at least they'd have that.  

I'm considering making an offer on a 12 unit (would be my first RE purchase)with the following characteristics:Asking price: $585,000GOI: 95,940NOI: 50,91012 2bd 1ba units with rents ranging from 425-595, two of the units are corporate rentals all utilities included and rent at 1,010 and 1,320.Built in 1985New roof in 2005Low maintenance exteriorNo common areas100% occupiedNice quiet small village area.Washer dryer hookups in units, not sure how many have them installedOff street outdoor parking lotTenants pay own utilities Comparable nearby apartment complex with very similar layouts, size and finishes (but with covered garage parking for one car for each unit - snow belt area) rents for $750+.