That could be as high as $14K to $15K not to mention Title fee's, origination fee's and days of interest another $7K to $8K.If you choose a lender or broker and they hit you with lender/broker fee's/points that’s another added cost.My best advice as a Banker is reach out now get a Pre-approval letter up front and give the Bank an idea of what neighborhood or a "mock" address and you can get an actual quote up front to avoid surprises.

My properties are in Brentwood, used to be able to get many applicants, but now it's just a trickle in the height of summer and quality of tenants is less than desirable and with much longer DOM. 

In one of the podcast episodes, I remember them saying that if you are trying to avoid raising rents too high on an existing tenant, you are better off renting at the full amount you can and then giving them a discount on the rent.

@Sean McKee we have just under 100 units in Berwyn. the answer to your question will depend mostly on the quality of the unit.

Hi Everyone,I own 8 units in Cleveland and recently my property management company has been choosing vendors that charge extremely high prices for any fix. 

I would also highly recommend getting a business credit card to purchase furnishings and later supplies for the property.

I would never recommend a buyer going up that high to purchase a train car! 

I would also recommend you expand your strategy to reaching out to local high producing agents and inquire about pocket listings as well (listings that are being sold off market and not on the MLS).

I do believe $450,000.00 is a high number for a 2,200 build, but even if that number was more in line with where the construction should be, your margins are still really thin.

Little supply, high demand ... voila, high prices.