i already own 5 doors, and I plan on a 4 plex purchase shortly so, I have a nice nest egg of property to grow with, create the coveted passive income.

All that to say that I truly covet your words of wisdom and the little nudges to stop making excuses.

Brushed Nickel Frame (481-166) Lighting – Hampton Bay 3-light Brushed Nickel (610-563) Towel Bar Set – Greenwich 3-piece Bath Accessory Kit in Satin Nickel (690-977)

I know how coveted good contractors are but I was wondering if anybody could recommend me a good contractor in the western MA area. 

Brushed Nickel Frame (481-166) Lighting – Martha Stewart Living 3-light Skylands Collection (511-395) Towel Bar Set – Greenwich 3-piece Bath Accessory Kit in Satin Nickel (690-977)Material List – Master Bathroom: Floor Tile – 6”x24?

Brushed Nickel Frame (481-166) Lighting – Martha Stewart Living 3-light Skylands Collection (511-395) Towel Bar Set – Greenwich 3-piece Bath Accessory Kit in Satin Nickel (690-977)Material List – Master Bathroom: Floor Tile – 6”x24?

The general rule is one person is not responsible for the bad acts of another unless they were a party to the bad act as well or an accessory before the fact.I can give you an example of your scenario.

The reason real estate in certain areas is expensive because it is coveted.

I buy things along the way that I like (such as art and accessories).I have my first painting that I bought to decorate my very first property.

Cost Assumptions Strike Price $1,050,000 Property Value $1,281,293 (Improvement $1,030,429, Land Value $200,000, Accessory Value 50,863)Closing Costs $31,500 (3%)Cash in $346,500 ------------------------------------- Financing Assumptions Downpayment 30% Finance Amt $735,000 Downpayment Amt $315,500 Interest Rate 6.0% Mortgage (Years) 20 Mortgage Payment $63,189-------------------------------------- 40 Unit Mix18 - 2 Bedroom 1 Bath Townhouse 8 - 3 Bedroom 1 Bath Flat 14 - 3 Bedroom 1 ½ Bath Townhouse -------------------------------------- Revenue Assumptions using current rent rollGross Potential Income $292,920 Gross Operating Income $263,628 (10% vacancy)Actual Income2012 $251,0002011 $282,3782010 $271,791-------------------------------------- Expense Assumptions50% rule $131,814Actual Expenses2012 $166,2452011 $144,8252010 $142,500-------------------------------------- Cash Flow & ROI Net Operating Income $131,814Capitalization Rate 12.6%Monthly CF Per Unit/Door$142.97 Break-Even Ratio74%5 yearsCOC Return (CFBT/ Acq Cost)20%Debt Coverage Ratio (1.5min)2.09Principal, Interest, Taxes, Insurance (PITI)$96,462Ratio (1.2min)2.73Need to also get a good walk through of the property to gain better insight into condition and any deferred maintenance needed right away.Its not a steal of a property but a decent deal and from what we found out so far a lot of it has been updated in the last 3-4 years.