The 2021 cap rate at that price was 3.5% though I expect lower now with issues and current expenses.

Financial Management: Set up a system to track your rental property income and expenses.

So the people who just bought expensive properties panicked and lowered their prices and they are competing with people that have owned their properties for years and have higher profit margins.

On the other hand, it can be more of a hassle and expense if they don't. 

Reason for mentioning single story 4plex is to have the ability for tenants to pay for water/utilities vs. it being an extra expense I accrue.

I hope Mario can mitigage his losses by selling the property quickly to stop the bleeding, or re-tenant and refinance to less expensive debt but this serves as a case study on the perils of investing in lower tier neighborhoods.The amount of people on the internet and social media selling the false narrative of how easy it is to create wealth through investing in real estate, specifically these lower tier neighborhoods is upsetting. 

We want to fight this expense because we aren’t backing out just cause, we are backing out for a serious reason.

I like the potential return the pro-forma shows, but I've been burned a couple of times already with expensive turnover, tenants leaving a mess and having to pay thousands $ to remove the junk and prep the unit for new tenants.

I found it better to buy nice furniture, and try to find deals or less expensive decorations and such to try to equal it out and make my budget work.

Will a new vent out the side wall be needed for venting add another $200.00 or so.Tankless: Very expensive but worth it in your own home.