If you are looking to invest into real estate, I have found this site to be incredibly helpful.

Making note of this as my own mental commitment to be more active on here.Anyhow, I closed on my first home back in early May after a couple months of battling it out in a veeerry hot market.

Low caps or or near break even cash flow is common in hot real estate markets/big  cities especially if you are looking for something turnkey.

Landlord paid hot water will require you to install individual hot water heaters and run lines.

If you are looking to invest into real estate, I have found this site to be incredibly helpful.

@Brian Holladay, that is incredibly fast! 

Your capex budget for a condo will include appliances, hot water heater , floors, maybe hvac, bath and kitchen remodel.

I would also add in some number for "reserves" on a monthly basis for each unit, perhaps $100-$150 per unit per month to start; you want to make sure you have some funds available in case you need to replace a roof, hot water heater, etc...

Varies by area but anything modern is hot right now.

Investment Info:

Single-family residence fix & flip investment in Mission Viejo.

Purchase price: $807,000

Cash invested: $95,000

Under contract for over asking price! Scheduled to close with an a...