Maybe I can't have my cake and eat it too (i.e., suck it up buttercup and get a commercial/portfolio loan), but I'm going to at least try first!!!

At least I dumped a bag of cat food on the porch for the feral cats. 3 cats immediately ran up to eat.

No matter the economy people don't stop brushing their teeth, eating or cutting off their prescribed meds; similarly, they never stop needing some place to live (though they may substitute lower cost alternatives, so higher end rentals may be more at risk). 

Unlike commercial real estate for example retail where tenants pay your property taxes on a NNN lease you have to eat any rise in cost on multifamily.

Ed E. at the moment I don't know.

I'll try running some numbers later but off the top of your head, how much does this eat into profits?

he says yes   then I asked him , " I guess you dont eat too well then do you ?

I would have scratched and saved, eating pb & j while driving a beater before borrowing at 11%, but the goal was sound.The greedy, non-working partner derailed this.

The turnkey is not relevant, but the concept is DEFERRED MAINTENANCE - - let the next owner eat the expenses. 

For my duplexes I simply eat that cost and set my rents to account for it.