And of course document the current condition with plenty of photos and inspection results (toilets function, drains function, etc.)

Let me know your input on some good styles & combinations to go with the dark green. 

We combined the equity lines of both of our properties to do this, then refinanced back out with a 30 yr fixed.  

To use the @ function; hold down the shift key and type @?

I seek out a property with "issues", whether property condition, management, or a combination of the 2.  

So its a combination of increasing costs and relatively flat rents that puts too much of a squeeze on cap rates.Still a lovely place to visit or to live....but maybe not to invest in my opinion

Unit 1 currently rents for $850, after improvements (adding central air to whole property, W/D in basement) we will rent for $950Unit 2: Total gut job and we will rent for $1,150Income/ExpensesTotal Monthly Income: $2,100Expenses: $830.57, Saving: $315, Total = $1145.37P&I: $531.45 + $40.26 (additional $7,500) = $571.71Insurance: $100 per monthProperty Taxes (yearly): $23875% vacancy, 5% repairs, 5% CapEx (we are replacing roof, gutter, new A/C, and 2nd unit will be brand new everything) = $315 per monthMonthly Cashflow: Before Saving: $1269.63, After Saving: $954.63For our calculations, we use the before saving value because we both have full-time jobs and will be dumping a large portion of our paychecks plus cashflows from this property and other properties into an account so we will have ample fund if something were to come up)ROI:Purchase Price = $82,000$33k (down payment) + $2.5k (extra cash needed) = $35,500Total Monthly Income = $2100Monthly Expense = $830.37Monthly Cashflow = $1269.63ROI = 12 * $1269.63 / $35,500 = 42.92%ROI (w/ savings) = 12 * $954.63 / $35,500 = 32.27%Cap Rate = 26.36%Cap Rate (w/ saving) = 21.75%Additional Factors:As stated above, this is one of the last parts of Oakley that is being improved upon and the average home value is $199,500The house next door (that is the exact same as this property) sold last summer for $165,000With the combination of the two above, one of our exit strategies is converting the property into a single family down the roadThank you for reading!

It seems like the combination of these facts has caused issues.

Next is framing in the attic (remember we're turning it into a bedroom), new bath downstairs and the dormer in the bathroom upstairs (to address the sloping roof in the bathroom upstairs - right now the sloping roof is taking away some of the functionality).And we're still waiting for the plans (and permits) to be approved! 

Bought a 4 unit and a house (two different parcels combined at one point) in Historic Kenwood in 2012 for $139,000.