The electric company told me that they will send out a tech to install a new meter (digital), and connect the electric.

Adding up all the down payments, rehabs, additions, etc. we are probably getting close to a 7-digit number ... on my way out this afternoon with the intention of spending another 25K ... and then there is the never ending distressed apartment dance which may turn out to be an expensive lesson all on its own.

It's a bit risky in the beginning (CoC return of ~0.30%) but it provides the opportunity for a double digit cash-on-cash return after the first year if I raise the rent (10.78% w/ Unit 2 as a 1 bedroom, 14.76% w/ Unit 2 as a 2 bedroom). 

A cap rate double digits to me adds a lot of risk.

Sell and move forward.REI is much like Poker, with the most important rule being "stay in the game". 

Individually metered, separate propane, separate septic and built as an "aging in place" home with Digital Health installed by Grandcare™.

If its my 1.5 milly, I'm targeting IRR deals north of 17% IRR, run by professional proven sponsors, diverse assets, metros, 50-100K per deal, cash on cash criteria double digits.

I'm most interested in doing fix+flips right now to build up cash for rental properties, but open to different creative strategies.I currently live in downtown Chicago and I am an analyst for a digital advertising company.

Originally from Cape Cod, MA I have recently moved down to the Tampa, FL area with a friend who has already begun investing in multi-family properties.I currently work for myself full-time as a freelance web developer and have a background in digital marketing and computer science from Bridgewater State University as well as Miami's Wyncode Academy.I am beginning to learn more about multi-family investing as well as wholesaling.

On the North side the common investment approach is to accept low single digit cap rates in order to get price appreciation.