We knew the owner was out of state (it was an estate sale) & the place was full of junk & the old machine shop was full of old equipment.We offered cash, close in 30, no inspection & we would take it 'as is'.Several others were also cash & higher but wanted inspections & the place cleaned up.It's NNN & still returns us 28% p.a.But we do have experience regarding structural, elect, plumbing etc etc.We had the opportunity to bid on another property that was part of the estate.

Once we had it stripped down, we sprayed the floors down with Odaban (Home Depot) then aired it out a lot and ran an ozone machine for a few days.

Im planning on living upstairs which has a big finished attic and renting downstairs which has basement (huge) access.Im thinking of building a wall separating the basement (one side w only access to laundry machines) & one (just accessible to the downstairs unit.

It took me about 6 months to build this operation from scratch, because I had to make adjustments on the criteria I wanted apply in each of the verticals (I ended up with 9 channels), figure out how to get this info in the first place, then put in procedures to automate this process somehow (I started off with hiring VAs overseas, which in itself is a learning process, and now with the help of my IT friend who has partnered up with me, is in the process of automating the data extraction process using AI/machine learning). 

Full disclosure, I am also a commercial REALTOR® that specializes in multifamily property investment, so I would be more than happy to help you out or answer any questions that you might have.As far as single family investment REAs in the area, I highly recommend Doug Duncan, Don Beard, and Lisa Victor.

Over the past 3 months I’ve been a machine, listening to podcast episodes everyday, scouring the forums for posts to learn from, reading every guide I can get my hands on, and I’ve got several books in the mail that I can’t wait to read (Long Distance Real Estate Investing by David Greene & The Book on Estimating Rehad Costs by J Scott). 

Plumbing from the "old" washing machine hook-up could become shower stall (tub is not an option).

The March 2018 Central Texas Housing Market Report is out from the Austin Board of REALTORS®. 

Even so, assuming an additional $5k in expenses, you would still be creating $10k AND have a cash flowing money making machine. 

I'm assuming this spike is from the washing machine usage?