I'm looking to start a direct mail campaign.

The numbers seem good so far but you need to include a lot more info to get good answers here.

Brian Jameson If you show a loss YoY on your returns, most of the traditional long term financing options will be closed to you, including Fannie/Freddie and typical bank loans.

@Alex Craig  one part of my e book on buying out of area rentals goes into insurance and these very issues.I suspect this is going to get much worse before it gets better.. how do you rehab a house with the tenant in them.. maybe a light turn over thats it..this person looks like made a cardinal error in buying low end rental in bad neighborhood probably becasue the numbers looked so good..

Your not really going to double your closing costs....some items yes, but many are bases on price, including PMI which should be the same.

3 apartments - probably a C+ to B- building in a C location:#1 2BR Rents for $600 currently#2 1BR Rents for $480#3 Efficiency rents for $500.Apartments 2 & 3 are on the same electrical, so their electric is included.

but a lot goes into analyzing a deal, including: $/SF, Average Days on Market in the area, how easy or difficult it is to get permits in the area, how long the flip would take, comps/ARV, Rehab, Rental Rates, how the area is trending, holding/carrying/hard money costs, closing/commission costs etc.If you can analyze the deal, you can then negotiate the deal with sellers, buyers, and lenders.

The smaller parks are generally owned by a now aging senior population who are not the least bit interested in emails or campaign letters.

Send me an email and I'll get you some contacts to get you started. 

Financing assumptions are a 30 year fixed rate mortgage with 4.25% APR and 20% down payment including rehab cost.