Doing is the best education, of course it helps to have a good mentor or experienced partner by your side to guide you in the right direction, and keep you on the right path.

Or maybe an experienced, sneaky Seller?

Tenant damage is independent of the age of the building.If a landlord is experienced and has been running his business long enough to know what he is doing, his expenses might be lower or hgher than the 50%, but he is NOT coming on here asking if a building is a good purchase or not.

Feel free to ask questions, there are alot of experienced invessors here.

Also, the county auditor's website lists comparable sales information.Search engines can link you to different bank sites.

Engineering to Finance and Investment.

When you ask a question, the leader encourages you to go to the breakfast meetings where everyone experienced should meet and discuss things.

This is more a rule for single family houses than apartments, but still a good rule of thumb for apartments as well.You can argue whether an experienced landlord in specific locations can ever get expenses lower than 45% on-average, but I think 99.9% of experienced landlords would never honestly believe you could get expenses anywhere near where you have them (25%).You can take Mike's advice and plan for 45-50% expenses (he has dozens of data points to support it), or you can stick with your own estimates, and consider it a learning opportunity a couple months down the road...Good luck!

Has anyone (or anyone you know) experienced success doing what the gurus suggest and sending multiple letters of intent?

If one of our network partners is using popups, I definitely want to know.Are others experiencing this?