Once that elevator is modernized, move the prior good tenants back to their original unit (with or without upgrades, freshening up etc. depending on available funds) , and repeat for the other two buildings.

Thought I would add my thoughts.A frequent mistake I see is that people combine different kinds of items and then calculate the average.

Initial cash flow is just one of many metrics, and ultimately you’ll need a combination of metrics to make a sound investment.

I'm looking for lists that would include folks who've passed away, properties with water or electrical shut offs, and maybe more.Currently I have capital to employ and have three experienced investors, combined we have $350k to invest in Oregon - ideally on 5+ unit multifamily and mixed use projects to improve the communities and assist with housing.

Most of the money was spent repairing and making sure it would meet modern building standards.

I know that HI real estate isn't great for cash flow, but this is more of a combined approach of us (worst case) living in the investment property eventually.

We have 18 units in our hometown and rent some units on Airbnb and we love spending time at the lake so we would like to combine the two and end up with a beautiful house on the lake that we can rent out on Airbnb and use as a second home for ourselves.

The IRS sent me a letter that cleared me and I never got the 1099R.Beware of this as it sounds like the your project is a combination of labor and materials, and you're not sure of the breakdown.

Property taxes are about $2500 a year for both sides combined.

@Mark Lord  you could do a combination of #1 and #2 and buy a duplex or multi-family.