If it is a great property that will cash flow well you can delay putting in new windows for a bit and then with the extra cash flow have to ability to pay for the windows in a pretty short time frame.

- the listing agent has an even bigger commission in the deal if there is no buyer agent, so they may work extra hard to upsell the deal to you to make the deal work - a takeaway may backfire, for example, 6% commission and you ask the seller to now work for 3% and credit the sales price, will they truly represent your best interests? 

One of my properties has a good size extra lot that the tenants don't use.  

Check 'for rent ads' in the paper or even on CL that are landline phone numbers.  

Likely too long.If you want to know the exact part of San Diego that these RE are in look at my profile but I really think all the working class areas of San Diego should be similar.Hopefully this gives you an idea of what is a realistic day 1 cash flow (not great), what type of below market deals can be found (there are better ones that people find than these but these are the ones available to me right now), and an example of an easy value add (versus more complicated value add like adding units or reconfiguring existing units into either more units or add BR to exiting units).Good luck

lots of great advice. i would add the following:if you are going to update the wiring and plumbing to a significant degree you should consided adding submetering for each unit.

The ad even said that there's a 10% CAP rate, 3 bedrooms and 2 baths in each unit.

If you added my Total income, my bonuses, and the ESOP it wouldnt come to $40,000.

Currently only two residents have washers and dryers, the others just use their alcoves for extra storage.  

Money wise i just about break even so its not a terrible investment but the added effort is something to consider.