The main reasons are the population of these two cities are growing fast, there will be high speed rail station built up in Palmdale which will help local development, and finally these two cities are within 60 miles radius of LA.

I also asked if I were supposed to get the deposits and prorated rent (the building closed on the 10th and rents were collected on the 1st) and have been told by everyone 'I don't know' so mainly my questions are 1.

There are investors that do this kind of thing with HUD homes as well.They sign paperwork at closing that they are occupying the property.Another component of this is fraud to a lender on a loan if you say you will be living there.The reason is lenders give certain rates to owner occupants because statistically you will fight much harder to keep a place you live in.If it's just a bad investment it is easier to walk away hence a higher rate and more down.This property from what you said is 2,400 X 12 = 28,800By half is 144,000 at a 10 cap based on 50% costs.The carpet and paint the bank put lipstick on it it appeal to a home buyer living in one unit and driving the price up.On a quad typically you could expect about 8,000 for the siding,4,000 for the roof,6,000 for 4 outside A/C units,if interior bathrooms and kitchens are outdated about 4,500 by 4 units is 18,000,then water heater and heater about another 6,000 total.So conservatively I have about 42,000 in immediate CAPEX.Every areas cost is different so I am just throwing mine out there.Now the other you say 20 quads total is what you need to worry about.If there are a bunch of short sales and foreclosures from vintage 2004,2005 loans then the new purchaser with a cash offer or a small debt service will rent below market to fill quickly and turn more or the same monthly cash as you.So you starting out at 600 rent monthly might go to 550 or 525 in your development.I have seen this happen.I have also seen even if your building is well kept quality tenants do not want to live next to the other buildings where landlords put in suspect tenants to fill up.Also some landlords with high debt service will drop rent instead of repair to keep tenants so they won't spend tens of thousands out of pocket to rehab.

location to main town?

Bill Gulley - Go to the main forum page and click on the tab that says, "My Discussions."

Search the main forum for Denver meetup.

Tax payers will now be able to dispose of a component of the building when it has been improved.

The main reason is because I don't want to always have to replace carpet.Has anyone had any issues with the tile cracking?

Don't drop that because if something happens to the interior (flood, fire) you will need that $10K to replace your components.

Mainly being the miles on my poor sporttrak.