It’s a great place to learn more about every aspect of RE investing and meet the people you want to meet.

Together (for both houses), the total rehabbing would be 23,000. this includes roofing, painting, pressure washing, electrical, floors, bathroom re-vamps, landscaping, ceiling work, doors, fixtures. the 9!

Any input would be valued, be that tips on landlording or the financial aspect of an investment of this nature. 

Welcome to BP family @Linda Weygant It is a great place to meet new friends and learn about various aspects of real estate and more. 

Welcome to BP community @Ryan Kee It is a great place to meet new friends and learn about various aspects of real estate and more.

People who invest in RE are entrepreneurs and generally like the whole risk/reward aspect of it.

The roof has slats instead of sheets of plywood. 

Details below: Contracted Purchase Price $275,000 Seller agreed to finance 20% down over 5 years and contribute $2k towards closing costs Building needs no works as the current owner has fully remodeled each unit including new roofs All units currently rented, approved for section 8 (if needed), and is current on all licenses/city inspections20 separate parking spaces that can be rented each month for additional income (currently bringing $150 per month)Coin-op laundry on site bringing in approx $175 per monthSee below for property evaluation: Scheduled Gross Income           $92,880.00Less 5% Vacancy Rate              ($4,644.00)Gross Operating Income            $88,236.00Less Operating Expenses Taxes              ($15,179.00)Insurance        ($2,645.00)Water              ($2,400.00)Sewer/Trash   ($6,000.00) Mngmnt (7%)  ($6,176.52)---plan on self managing but need to allow for it Maintenance   ($4,411.80)Total Operating Expense           ($37,022.32)NOI                                             $51,213.68Cap Rate                                    18.6%Our lender does not want to allow us to use the full 20% from the seller.  

Welcome to BP community @Bob Walters It is a great place to meet new friends and learn about various aspects of real estate and more. 

You're probably right on the hard money lender aspect of the strategy I'm using.