If this were in my area I'd evaluate 5k for AC (assuming you need zero duct work) and 3k for paint and 3k for carpet plus 3-5k for unexpected/ minor repairs.

The center is usually configured in a straight line as a strip, or may be laid out in an L or U shape, depending on the site and design.Typical Type of Anchors: Discount store, supermarket, drug, large-specialty discount (toys, books, electronics, home improvement/furnishings or sporting goods, etc.)Trade Area Size: 3-6 milesProperty Type: Neighborhood CenterConcept: Convenience oriented.Typical Type of Anchors: Supermarkets like Giant Eagle or KrogerTrade Area Size: 3 milesProperty Type: Strip/ConvenienceConcept: Attached row of stores or service outlets managed as a coherent retail entity, with on-site parking usually located in front of the stores.

I'm sure you can use BP or other outlets to find a good investor-friendly agent who can help guide you along the way.Best of luck to you!

That is definitely the biggest mistake I made on my first fix and flip, but I still ended up positive because I factored in unexpected costs that might have occurred.

I know one thing for sure, one super expensive unexpected repair can ruin your glorious investment.Please chime in on this one.Billy T.

Your not responsible for maintenance or capex or unexpected costs on a property6.

Like you've hear already, PM work is great if you have a good tenant that sticks around, but can quickly become a nightmare if there is high turnover, a bad tenant, or other unexpected issues.

Hmmm, $20k in profit without lifting a finger or spending any money or time or $35k in profit after spending months dealing with contractors, holding costs, unexpected hits to the original, underestimated budget, selling time, etc, etc.

This is more to cover me in case anything crazy / unexpected happens as these are both friends I have known for quite a while, but other investors on me have continued to say "You don't truly know someone until you live with them" so I am just trying to cover myself in every way.Thanks again for answering!

Row House in zip code '21239' in Idlewood community, Baltimore : 3 bed/1.5 bathTrulia data: low crime rateAge: 1953Asking price ~ $120kProposed offer price: $90kRoof & gutter: 2010HVAC > 20 yrsHot water heater: recentPlumbing: copper Closing cost: 7kRepairs and MISC costs: $5k (Paint, lead certificate, patio fix, rental registration, cleaning, and unexpected cost)Down payment: 20% (30 yrs, investment loan)Loan rate: 5% Rent total: $1400 (below rentometer average, and I have checked recent listing as well) P&I: $387/moTaxes: $198/moInsurance: $50/moLawn care: $40/moGround rent: $8/moVacancy: 8.3%  (1 month vacancy/yr)CapEx: 18% (for this > 50 yrs old house)Property Management: 10%Cash flow: $210/mototal cash need: 30kCash on cash: 8.4%I have a few specific questions and would like to learn from you guys;1.