They are hard on the rentals, not to mention waiting for +40 years for an investment payout on a nickel and dime bet on housing in a very poor area is not a good investment strategy.

I am currently charging a fixed monthly fee based on the size and # of units which covers all your routine repairs, plus cleaning.

Most of them are small operations but they all have that really cool machine in their full size vans that seem to turn what appears to be a lost cause into something miraculous(sp?)

For Tax purposes your best bet is to start an LLC and DO NOT elect any other status.

I got tickets to the conference because I'm betting that we will get out more than the $1500 we will spend on it!

I would not consider buying a building of this size unless each apartment was sub metered or it was feasible to sub meter.

Now, let's say that the average house of comparable size in that neighborhood, in decent condition but nothing special, is going for around $125k.

The only thing that matters is actual sold co0mps within the last 3 months and similar properties (i.e. if subject property is 1500 square feet and 3 beds, 2 baths, you need other sold comps that have similar size and same beds baths or know how to adjust for those with an additional bed or bath.Comping values is an artform and takes practice.

I know when I size up deals it doesn't take more than a couple minuets maybe an hour tops to figure out if it is good or not.

In Michigan a project of that size would have to go the Planning Commission for approval.