. $500 rent for $$33K per door look good as long as water and utilities are paid by the tenant.

If the repairs are more than 10k, they will be discounted from the offer price.Operating Data: Numbers I'm using to come to Cash Flow and NOI, Seller provided utility expenses and Insurance costs.Note: the CapEx numbers are estimated from a spreadsheet on things that will need to be replaced in the next 5 years, I plan to sell in that time frame to reduce large CapEx expenses.

The good news is that I can always utilize a HELOC to leverage the property if another opportunity arises. 

Hello, I am a first time home buyer in the South Florida (Broward County) area utilizing a VA loan as my first home purchase.

From my experience, one needs to be familiar with as many strategies and options (tools) as possible and then, equally or even more important, know when and how to utilize the right tool(s) to create win-win scenarios.

I’ve found the best results utilizing a tax attorney.

The owner may pay utilities also, the gross rents can be deceiving..

Its not cheap to have a property demoed in Detroit, Ex.  2100 sf , two story, between two existing homes will cost approx. 13k, without asbestos and lead remediation - it will take 60-90 days to get utilities terminated, and proper permits issued.

One has much more capital to put in for a down payment than myself and the other friend, and he is not opposed to utilizing his greater capital to get us into a larger property. 

Landlord pays for oil, water/sewer and trash.If we end up acquiring the building, we would somehow want to pass the heating cost to the tenants for new leases.One way would be to implement RUBS (utility bill back to the tenants based on sq footage of the units, # of occupants, etc).Another way would be to convert to electric heat.