He believes it is a property we can acquire for under $100K and Rehab to have an ARV of $200K.

Hi all,  I believe this topic was already discussed years ago.

If you are a softie and believe hard luck stories and have a difficult time saying no .Then being a landlord isnt for you .  

Tenants pay electricity, not sure about water and i believe there would be a dumpster unit rental every month (there are other quad plexes on the same street)2 units rent for $450 each2 units rent for $425 eachTotal rent income: $1750No pictures are listed, and will only let you view inside if offer is made.Financials: 25% down: $25,980Financing: 108,420Closing cost: EST. $5000Total investment: $30,480Mortgage payment: $530/month (Conventional 30yr at 4.6%)Annual rental income: $21,000Annual Expenses: Property tax $1200 estimatedInsurance $1,200 (best guess)Prop man.$1680 (8% of rent)Mortgage $6360Calculations:NOI = Income (minus vacancy)- Expenses (Prop tax, insur, and Prop mgt) = 21,000- 4,080 = $16,920Cash Flow = NOI - Debt service (mortgage) = 16,920 - 6,360 = $10,560ROI = Cash flow/ Investment basis = $10,560/ $30,480 = 34.6%Cap rate = NOI/ Purchase price = 16,920 / 129,900 = 13.0%I realize i forgot to add vacancy rate to the duplex. 

And, if you can’t actually benefit from the depreciation that year, it will carry over help you on cap gains I believe.

I can't speak to many other cities but Calgary is in a state of cooling after oil took a tumble. 

I know Zillow values accuracy sucks, but it is the most popular real estate website and many people believe these numbers. 

3) It has oil heat boiler that needs to be replaced.

Liked me/believed in me enough to take the risk.

@Isaac Agbolosoo I believe they use Yodlee to grab transactional data from banks, a service that many other financial software uses (Xero, mint...).