Learn to spot a deal (compared to other properties being sold).

Makes it much easier to spot opportunities that you'd miss with just looking at the properties alone.2.

Makes it much easier to spot opportunities that you'd miss with just looking at the properties alone.2.

@Ron Fletcher is spot on about saturation.  

Austin Hughes as long as you have a spot where you can park it and it won't cost you too much.

You probably don't want to re-zone because of the time and money involved especially if you plan to rebuild apartments.A parking spot may only be 113 to 180 SF depending on layout compact or standard but you also need circulation unless you plan to do a valet lot.

HI  all I live in Ontario so everythign I do is out of state infact out of country..doing your homework is essintial and laning in a spot that the numbers work... once you have a spot gettign a great team on the grond  is essintial..

I've run some numbers on several market rate deals, and below is roughly what I've seen:Purchase price - 700KCap rate = 8%NOI = 56KI'd need a loan and property management.Property management ~7800/yearLoan (5%, 20 year amort, 20% down) = 44.3K/yearCash flow = 56,000-7800-44,300 = $3,900/yearThis assumes NO capital expenses and assumes the current owner's maintenance numbers are spot on.  

It did happen to me (stabbing- wife killed husband), and the previous post was spot on.  

Robert is spot on.