That being said if you’re responsible for the heating and air conditioning and those look older it might be worth it to have a HVAC person take a look at them.

I then suggested he at least speak to the association’s legal council.

@Kate Yabar, there are things that you know, things that you know you don't know, but the element that will give you regrets is the things that you don't know that you don't know.

The numbers look great and it's in a solid location but the one thing I am not familiar with is it uses oil heat (my current multi is gas).Is there a lot more work dealing with tenants and oil heat and are tenants less likely to want to rent units with the added cost of oil and the hastle of having it filled?

I must be missing somethingFinal Analysis After Adding Half Bath and Refinancing the PropertyExpected Rental Income: $1,200/moExpected Annual Gross Income: $14,400Monthly ExpensesTax $88Insurance $56HOA (Includes heat, water, common insurance, building maintenance) $263Repairs $50Total: $457/moTotal Annual Expenses: $5,484Expected Annual Net Income: $8,916Cap Rate: 6% (based on home price after refi)Principal & Interest after refi: $457/moCash Flow: $286/moThis deal is a moot point as the building is already over its rental cap, but I wonder if I'm getting close to an accurate picture of the BRRR process.

I also recommend that they ensure the coverage includes; AC/heat, plumbing, appliances & electrical.

It has two working central heat and air units and is located one street away from one of the main streets in town.

My question is the siding is wood and in decent shape however after removing some sheet rock from the interior noticed there was some gaps exposing the elements to inside the wall, could I just put tyvek house wrap over old siding the put new siding over that or is this not a good idea?

The reason I get heated about this topic, is because you are operating a business where you hold someone's housing in the balance.

Management Fee: $0 Self manageTenants pay electric & heat source is electric.