If the previous owner had any money in escrow we were not able to collect it.

hi all, first off this deal scares me, not that it is bad but that it is big, there is an investor that wants to unload his portfolio of rentals and retire i received a voicemail and email from the investor containing the info and he asked if i would be interested, i definitely am but i look at the size of the deal and the potential for growth i feel as if im looking at a giant, bordering paralysis/analysis. located Near Bradford, PA and he is open to creative financing, so here are the numbers.asking $585,000  - market value 750-800k10 properties totaling 36 unitsGross rent $229,320Taxes- $26,200Ins- $13,225maintenance- $17,515PM- $34,164Utilities- $72,337______________________NOI- $65,870now i plan to swallow my fear and call him tomorrow with a already large list of questions, all of the units are on a month-2-month lease and he has had 95% Occupancy over the past 10 yrs. all properties are in the same town in a decent area (C+   B) and are rented ( 500-550 ) quite a bit blow ave rent for the area ( 650-800 ) so definitely room for growth, in addition i want to figure out why the utility expense is 72k.. that's nuts i am assuming he is picking up a lot of the utilities so with some adjustments to management, rents, expenses i see a great opportunity.i also ask what due diligence should i do on the PM since they have one in place and what should i expect in the transition if we move forward i currently manage my 3 units myself an see that 34k and wonder if i could handle the management or see how i can tighten up the reins on the PM to get things moving for optimum cash flow.  

I'm not able to make up the decision whether i should move out of Cali or do business while staying in Cali itself.

I am having a giant Laurel Oak taken down that is in bad shape and has a HUGE limb hanging over the roof.  

Why are you not able to answer the basic questions I have asked?  

The inspection period was over by this time, so we were not able to see the property other than photos (took our mentor's word for it).Yesterday we had a walk-through with the mentor's contractor who said repairs are more like $30-35k.  

.- they're telling me it will be a complete rehab costing $40K, and judging from previous photos of the interior I saw on another website, I can believe that - it looked like a hoarder's home, and they've already removed 2-3 giant trees from the front yard that obstructed  the house.- they're telling me they have an algorithm they use with purchase price, carrying costs, closing costs as well as renovation prices that gives them the purchase price of $91,900.

Copied from a fellow broker so i have to paraphrase but thought this was good info -- esp why we never crashed in the housing bubble.MY WORKING FIRST TO @NICHOLAS B: I have an excellent article for you regarding why NYC never experienced the crash we avoided the downturn b/c 75-80% of our buildings are co-op -- MUCH more financial restrictions than a mortgage (typically 25-33% down but could be up to 75% down or cash only) -- higher down payment and 2-3 years of POST CLOSING LIQUIDITY (maintenance + mortgage) must be in your checking account AFTER closing in case of ANYTHING... some co-ops require full cash only and then post closing, be worth twice the value of the apartment-- some notably require you to have over $100 million in assets!!

I had great partners, great deal and great network, but I was not able to raise as much as I wanted.  

I hope everyone is putting together their goals for the upcoming year as 2015 winds down.It’s been a great year in real estate and I hope that 2016 is even better.I am a real estate investor and real estate agent.The goal is to generate income from my real estate agent sales to re-invest into rental properties most notable apartment buildings.I wanted to take the time to share a recent deal we put together several months ago that worked well for all parties involved and provided an exit strategy for the subject property after several other failed strategies.It was 2012 and we had just completed 2 smaller rehab projects and was looking for more.I came across a large 2100 square ft. 2 story home with 5 bedrooms and 2.5 baths that was completely trashed.Trashed so badly, there were holes in the floor of a small addition that was allowing small critters in!