I've seen too many of those to count and it still never ceases to amaze me that anyone can live like that.

On Zillow rentals you can also sort by bedroom count!

They didn’t just jump into the pilot seat and start counting down.

I'm at -$100 (not counting capital expenses or repairs) with rent minus PITI and 10% property management fees on $140,000 house.

Go on details count :-)

so i have been working on building my marketing plan and I plan on hitting NYC area my family is in nyc and so am i right now and i guess you could call me an opportunist with lots of spare time so i want to use wholesaling techniques to snatch off market deals cutting out all the middle men involved and yea fixing and flipping them for now as i have a limited source of capital at the moment although eventually i will be holding multi families for rental income...My plan is to find a broker or agent willing to pay a monthly fee (equivelant to my advertising cost) in exchange for a steady stream of referrals for all the motivated sellers who call me but are not willing to work with me at my price or have a move in ready home and want to sell at market value which is clearly not what i am looking for....there are so many empty billboards in NYC but i will probably start out with a 3x12 Banners that i can have made for free at the moment and find willing commercial business owners in industrial areas with a high traffic count...

My soft costs not counting the building permits or loan fees on the 15 unit are around $40k after I fought my way threw city approvals.

Also be sure that some of the square footage you are counting is not below grade (basement).

The price per unit ($40-70K depending on whether you count the unfinished units) combined with the size of the town that the property is in (3000) pretty well guarantees that this is not the type of market where a 3.6% CAP rate would make for a good investment.  

During the past presidential election my jaw hit the floor when Hilary Clinton sat on David Letterman's show and came right out and said that the votes that came in with the most money counted more then just a vote.