I don’t understand the numbers yet on if they are good investment.But I’m just thinking that if I could get as close as I can to owning them outright, I could make roughly 1k per month in rental income..I saw one place - it was physically stunning for 80k in New Kensington PA that was foreclosed.

Since the boiler was only about 15 years old (installed by the previous owner), I was stunned to learn that he removed it to install the seperate HVAC systems and ductwork for all 3 units unit. -- I see why he wants to avoid paying $3,500 - $4,500/year in natural gas, however, now we are stuck with overpriced units and in area where renters expect heat to be included. -- He can at least remove the radiators and cap the pipes to provide more room in these 2 bedroom apartments.I'm all about new windows, updated kitchens/baths, etc but I think he went over the top with these new HVAC systems..

Phoenix for example you'll see no cash flow to maybe a few hundred dollars after you take out expenses, but people are buying left and right.you have cash flow and IRR .. you can have cash flow on some properties in non appreciating markets that will be negative IRR when you go to sell.. they went down in value or cap ex ate you up etc.you can have negative cash flow and stunning IRR when the markets appreciate.. there is more to investing than simply asking does it make me 100 a month. or 200.00 a month..

But do me a favor, don't call me unless rates are trending upwards.

In my area, $50k is usually the cutoff point, but I have a couple lender friends who will do me a favor and write a $30k deal, knowing that they're going to get tons of return business from me.

I have logged all over that area.. that lot is VERY steep.. no way to split  it and well and septic will run you easy 50 to 75k on that parcel .. also keep in mind its VERY difficult to split lots.. and if they can easily be split usually price will reflect that.I have 3 semi rural lots  1.5 for two of them and then 3.5 acres with 500 ft of Deep Creek frontage stunning site.. its in an area called Barton if you google it you will see a corner gas station we are the property right to the north. 

I have to say I’m stunned by the other responses on repairs.

He was stunned on the phone because I think in that moment he finally realized I'm making a nice chunk of change.The end

but we had one years ago where the home was built over an old water cistern with a domed top that had collapsed.

Purchase price: $1,050,000 Sale price: $1,570,000 Multi-family tri-plex in a stunning location, with sweeping views of the bay and the mountains.