I think on your next one I would look around for a few items that would look like higher finishes.And while you are in a tough area of town, I am somewhat surprised you aren't able to sell it. 

Maybe in a rougher area in your town that is improving.

I can see reduced rents but everyone leaving town all @ once.

We anticipate about $150k in repairs when All said and done.Immediate repairs/interior rehab approximate about a 3rd of that total.Roof replacement accounts for the rest.First thing that jumps out from the spreadsheet is no PM cost.We are buying out of state,so will slap on the 8% PM fees.Because we already own a similar building in town,we know the water and sewer bill is at least 2x what it should be.So updating plumbing fixtures to reduce water utility portion is a major value play.Rents are also at least $100 under market.Financing is agency debt.6.5% interest3 year term,30 year amortization.There’s a lot of moving parts in a value play.That’s why I wanted your comments and questions first and i can respond as we go.

What part of town do you live in?

Have you ever had or have properties that are located on the coasts in shore towns?

I have been in contact with the cousin for over a week and built great rapport with the guy.

I'm having a mini investment seminar this Thursday at 6 PM in Old Town if you want to stop by.

This is because every town seems to keep their heads up high at the idea of allowing multi-fams in, but a large percentage of the single family mini mansions are actually housing multiple residents.

Hey there y'all!I am a real estate investor who has primarily been investing in Utah. However, I am wanting to branch out and have loved researching the market in Cincinnati. I just wanted to reach out and find out so...