Him and I just had a discussion yesterday about an opportunity for a home with neighbors who are constantly getting city fines for scrapping, abandoned vehicles, trash, dumping, etc.

The report used U.S. census data and a Zillow survey of more than 13,000 home buyers, sellers, owners and renters.Of millennial buyers who moved in the last year, 64 percent stayed in the same city and just 7 percent moved to a different state, the Zillow study said.The Harvard study by its Joint Center for Housing Studies – which used data from the census and the Department of Housing and Urban Development as well as its own analysis – found most stereotypes associated with millennial homebuyers were not true.It said among the misconceptions were that millennials want to live in urban locations closer to employment, commercial and social centers; prefer the flexibility of renting; and are unwilling to take on the financial risks of ownership in the wake of the housing market collapse."

And this using a 203K FHA loan in the brutal market of Boston, on the east side of the Port Norfolk bay area.Facts & Numbers:2 beds & 2 baths on each of the 3 unitsPurchased for $655K @ 5% down-payment and a generous dose of 203K closing feesTaken a 30K cushion for the 203K streamlined rehabLocked in 4.25% @ 30 year interest rateAppraised at 750KThe numbers are certainly not the exquisite definition of what a ground-breaking deal stands for, but they certainly fare decently well in this seller's market where cash investors rule, the inventory is constantly challenged and most properties are getting sold for over asking price, taking advantage of the current interest rates, the Everett Casino construction, and a few other speculative but pragmatic plays.Just like most everyone else that was not raised or surrounded by real estate professionals from a young age, this deal was pretty much riddled with small mistakes here and there, from neglecting the fire department smoke and carbon detector regulations, being over-optimistic on the underwriting guidelines, underestimating the cost opportunity due to all sorts of processing delays, and you name it.Currently free from tenants, the expectation is to add value by rehabilitating the under-developed basement, adding 2nd and 3rd floor balcony decks, and a variety of practical and aesthetic fixes.

I have a fear of getting analysis paralysis so I am constantly ready to pull the trigger but now I am attempting to do it in a more informed intelligent way. 

I do not touch any of my profits from my properties ( unless they get up to a steady amount, usually 10K for me) this way that money is there for a new roof, furnace, hot water heater, whatever may come up. i just purchased a place and the first thing i did was have the roof replaced, 15K later, i know i am good for at least 25 years, if a storm does not rip it off, but now i know that property better have at least 15K in reserves. take what will be your worst case repair and make sure you have enough, or close to enough, in reserves for that property. but as others have stated, constant inspection of properties and equipment will help you prolong any of that, have an HVAC co. check the systems or a plumber check and maintain the furnace either every year or every other year, check roof for missing shingles or exterior for rotted boards, keeping the water out will maintain the structure within, exterior maintenance is a must.

Did the joint where the clay meets PVC fail?

Intention is to have a parent holding LLC with subsidiary LLCs to hold assets, form joint ventures and possibly one as a holder of interests in foreign entities (we may do some investing in South America too).My wife/partner is a foreign national in the US and does not have any US based documentation (no Tax ID, no Green Card, no SSN, etc) at this stage but we do intend for her to get residency documents in the next couple years.The plan now is to incorporate the LLC(s) beginning in January with myself holding 50% and my foreign national wife holding 50%.  

Look for some seller financing, find a partner, 1% of a deal is better than 0%, invest in a REIT, make friends with some local investors, don't believe everyone, run numbers constantly, find a market you love, continue learning.

they live there and constantly watch the property best they can but they even get hit.to expect PM to keep this from happening is not reality.. its the asset class 

I always hear about how my Pops could go to a burger joint and eat for (under) a $1 way back in the day.