Now, this does not take into consideration the current occupancy, Deferred maintenance, Age of the property, amount of land, upside, supply index of the market, and getting the ACTUAL Expenses, rather than using an industry average of 35% as I just did in our little exercise.  

I have PMs that charge a 10% "supervisory" fee on every maintenance or renovation project they accomplish for me.  

I started student based multifamily in maintenance and facilities when I was 19 and have climbed through the ranks and held every position on site in the past few years. 

The land represents increased purchase price (without the benefit of additional income), increased holding cost in the way of taxes, increased cost (or labor) in the maintenance and care of the land, and I have never seen tenants really use the grounds the way I envisioned they would.

Price dropped to $45k and the numbers are as follows. 4 units, 3 tenants($425/month), $15,300 gross, Recently connected to City Septic but has a Water Well Connection(can be switched back), Repairs around $25k(kitchen and bath need upgrading) along with  maintenance.  

Your maintenance costs can be as high as 60% of your income due to turnover and maintenance.  

Such as Cap Ex, property maintenance and utilities (to name a few)?

- Maintenance/Repairs- Bad/Messy Tenants- Turnover/Vacancy-OtherThoughts and feedback are appreciated.

I am a full time Rehabber and a Realtor as well,  and I routinely come across good buy/hold investments which I provide other investors with. 

But Verizon approached me and ask for lease of the land beneath the tower (about 150 sf) to build a cell (they will take care of landscaping/maintenance)  so they can use the tower (not sure about any deal between Verizon and Oncor).